94,763 Shares in Fossil Group, Inc. (FOSL) Acquired by Trexquant Investment LP
Trexquant Investment LP bought a new position in Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, Holdings Channel reports. The firm bought 94,763 shares of the accessories brand company’s stock, valued at approximately $981,000.
A number of other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Fossil Group by 21.2% in the first quarter. Nisa Investment Advisors LLC now owns 14,300 shares of the accessories brand company’s stock worth $250,000 after buying an additional 2,500 shares during the period. FDO Partners LLC bought a new position in shares of Fossil Group during the first quarter worth approximately $3,379,000. State Board of Administration of Florida Retirement System raised its position in shares of Fossil Group by 10.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,132 shares of the accessories brand company’s stock worth $491,000 after buying an additional 2,615 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Fossil Group during the first quarter worth approximately $1,212,000. Finally, Prudential Financial Inc. raised its position in shares of Fossil Group by 171.2% in the first quarter. Prudential Financial Inc. now owns 380,416 shares of the accessories brand company’s stock worth $6,638,000 after buying an additional 240,130 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Fossil Group, Inc. (FOSL) opened at 8.87 on Thursday. The firm has a 50-day moving average of $10.43 and a 200 day moving average of $15.28. The company has a market capitalization of $429.88 million, a price-to-earnings ratio of 17.39 and a beta of 0.73. Fossil Group, Inc. has a one year low of $8.37 and a one year high of $36.87.
Fossil Group (NASDAQ:FOSL) last issued its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The firm had revenue of $596.80 million during the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 5.80%. The business’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. Equities research analysts predict that Fossil Group, Inc. will post $0.87 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on FOSL. Wells Fargo & Company reissued an “underperform” rating and issued a $7.00 price target (down previously from $8.00) on shares of Fossil Group in a report on Thursday. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price target on shares of Fossil Group in a report on Wednesday. Buckingham Research decreased their price target on shares of Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America Corporation set a $7.00 price target on shares of Fossil Group and gave the stock a “sell” rating in a report on Wednesday. Finally, Telsey Advisory Group decreased their price target on shares of Fossil Group from $13.00 to $11.00 and set a “market perform” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.23.
In other news, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the sale, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold 2,220,281 shares of company stock valued at $23,790,210 over the last three months. Insiders own 12.80% of the company’s stock.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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