Fossil Group, Inc. $FOSL is Miller Value Partners LLC’s 7th Largest Position

Miller Value Partners LLC lowered its holdings in Fossil Group, Inc. (NASDAQ:FOSL) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,184,415 shares of the accessories brand company’s stock after selling 141,980 shares during the period. Fossil Group makes up 4.2% of Miller Value Partners LLC’s portfolio, making the stock its 7th biggest position. Miller Value Partners LLC owned about 5.83% of Fossil Group worth $11,973,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Carrera Capital Advisors purchased a new stake in shares of Fossil Group in the fourth quarter valued at $38,000. Bridgeway Capital Management LLC lifted its holdings in shares of Fossil Group by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock valued at $629,000 after purchasing an additional 10,249 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Fossil Group by 10.4% in the fourth quarter. Empowered Funds LLC now owns 114,403 shares of the accessories brand company’s stock valued at $430,000 after purchasing an additional 10,824 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Fossil Group in the third quarter valued at $28,000. Finally, EHP Funds Inc. purchased a new stake in shares of Fossil Group in the third quarter valued at $28,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Fossil Group Trading Down 5.2%

NASDAQ FOSL opened at $4.18 on Thursday. Fossil Group, Inc. has a 1-year low of $1.27 and a 1-year high of $5.74. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $247.04 million, a PE ratio of -3.67 and a beta of 1.62. The firm’s fifty day simple moving average is $4.52 and its 200-day simple moving average is $4.16.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, May 13th. The accessories brand company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.25. The business had revenue of $224.76 million for the quarter, compared to the consensus estimate of $204.74 million. Fossil Group had a negative net margin of 6.19% and a negative return on equity of 48.51%. As a group, sell-side analysts anticipate that Fossil Group, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on FOSL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Fossil Group in a report on Tuesday, April 21st. Northland Securities assumed coverage on shares of Fossil Group in a research note on Thursday, February 19th. They issued an “outperform” rating and a $7.00 price target on the stock. Zacks Research raised shares of Fossil Group to a “hold” rating in a research note on Friday, February 20th. Wall Street Zen raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Maxim Group upped their price target on shares of Fossil Group from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Fossil Group has an average rating of “Hold” and a consensus price target of $7.00.

Insider Buying and Selling

In other Fossil Group news, Director Wendy Lee Schoppert bought 24,331 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $4.14 per share, with a total value of $100,730.34. Following the completion of the transaction, the director directly owned 120,625 shares of the company’s stock, valued at $499,387.50. This represents a 25.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

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.