Renaissance Technologies LLC Takes Position in Fossil Group, Inc. $FOSL

Renaissance Technologies LLC bought a new stake in Fossil Group, Inc. (NASDAQ:FOSL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 95,936 shares of the accessories brand company’s stock, valued at approximately $413,000. Renaissance Technologies LLC owned 0.16% of Fossil Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Carrera Capital Advisors acquired a new position in Fossil Group in the 4th quarter valued at approximately $38,000. Wexford Capital LP acquired a new stake in shares of Fossil Group during the 3rd quarter worth approximately $28,000. Qube Research & Technologies Ltd acquired a new stake in shares of Fossil Group during the 3rd quarter worth approximately $39,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Fossil Group during the 4th quarter worth approximately $63,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Fossil Group during the third quarter valued at approximately $45,000. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Stock Performance

Shares of Fossil Group stock opened at $5.50 on Wednesday. The firm has a fifty day moving average of $4.56 and a two-hundred day moving average of $4.43. The stock has a market capitalization of $311.52 million, a price-to-earnings ratio of -4.30 and a beta of 1.62. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76. Fossil Group, Inc. has a 52 week low of $1.70 and a 52 week high of $6.25.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.16. The firm had revenue of $209.69 million for the quarter, compared to analyst estimates of $199.33 million. Fossil Group had a negative return on equity of 59.76% and a negative net margin of 7.09%. As a group, equities research analysts predict that Fossil Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOSL. Northland Securities set a $8.00 target price on shares of Fossil Group in a research report on Thursday, August 13th. Wall Street Zen raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fossil Group presently has an average rating of “Hold” and a consensus target price of $7.50.

About Fossil Group

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.