Fossil Group (NASDAQ:FOSL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Fossil Group, Inc. (NASDAQ:FOSL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.95 and traded as high as $3.92. Fossil Group shares last traded at $3.85, with a volume of 413,373 shares trading hands.

Wall Street Analysts Forecast Growth

FOSL has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a report on Thursday, January 22nd. Wall Street Zen downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Fossil Group presently has an average rating of “Hold” and a consensus target price of $5.00.

Fossil Group Price Performance

The company has a debt-to-equity ratio of 1.76, a current ratio of 1.56 and a quick ratio of 1.00. The company has a market cap of $210.36 million, a P/E ratio of -3.03 and a beta of 1.75. The company has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $2.95.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Thursday, November 13th. The accessories brand company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.27). Fossil Group had a negative return on equity of 18.08% and a negative net margin of 6.32%.The company had revenue of $270.20 million for the quarter, compared to analyst estimates of $233.32 million.

Insiders Place Their Bets

In related news, Director Wendy Lee Schoppert purchased 41,322 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average cost of $2.47 per share, for a total transaction of $102,065.34. Following the completion of the acquisition, the director owned 43,788 shares in the company, valued at $108,156.36. This trade represents a 1,675.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Randy J. Greben acquired 20,980 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average cost of $2.38 per share, for a total transaction of $49,932.40. Following the completion of the transaction, the chief financial officer directly owned 170,980 shares of the company’s stock, valued at $406,932.40. This represents a 13.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 389,652 shares of company stock valued at $816,874 over the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC increased its stake in shares of Fossil Group by 21.5% during the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after purchasing an additional 898,626 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its holdings in shares of Fossil Group by 1,220.7% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 875,026 shares of the accessories brand company’s stock valued at $3,290,000 after acquiring an additional 808,770 shares during the last quarter. Quinn Opportunity Partners LLC raised its stake in shares of Fossil Group by 4,465.6% in the 3rd quarter. Quinn Opportunity Partners LLC now owns 470,301 shares of the accessories brand company’s stock valued at $1,209,000 after acquiring an additional 460,000 shares in the last quarter. Bank of America Corp DE lifted its holdings in Fossil Group by 527.2% in the 3rd quarter. Bank of America Corp DE now owns 364,296 shares of the accessories brand company’s stock worth $936,000 after purchasing an additional 306,209 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Fossil Group by 154.1% in the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock valued at $527,000 after purchasing an additional 278,391 shares during the period. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.