Fossil Group Inc (FOSL) Short Interest Down 20.4% in May

Fossil Group Inc (NASDAQ:FOSL) saw a large decline in short interest in May. As of May 15th, there was short interest totalling 12,427,221 shares, a decline of 20.4% from the April 30th total of 15,612,766 shares. Based on an average daily trading volume, of 3,104,843 shares, the short-interest ratio is currently 4.0 days. Currently, 28.7% of the shares of the stock are sold short.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, May 11th. ValuEngine upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Buckingham Research boosted their price objective on Fossil Group from $5.00 to $8.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 14th. BidaskClub lowered Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, KeyCorp reiterated an “overweight” rating and set a $25.00 price objective (up from $15.00) on shares of Fossil Group in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Fossil Group has an average rating of “Hold” and a consensus price target of $13.00.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 255,448 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $13.55, for a total transaction of $3,461,320.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 679,972 shares of company stock valued at $9,041,909. 8.20% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund grew its position in shares of Fossil Group by 10.1% in the first quarter. New York State Common Retirement Fund now owns 47,800 shares of the accessories brand company’s stock valued at $607,000 after purchasing an additional 4,400 shares in the last quarter. Swiss National Bank lifted its holdings in Fossil Group by 6.9% in the first quarter. Swiss National Bank now owns 76,041 shares of the accessories brand company’s stock valued at $966,000 after acquiring an additional 4,900 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Fossil Group by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 134,176 shares of the accessories brand company’s stock valued at $1,043,000 after acquiring an additional 5,308 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Fossil Group by 6.6% in the fourth quarter. California State Teachers Retirement System now owns 88,455 shares of the accessories brand company’s stock valued at $687,000 after acquiring an additional 5,480 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in Fossil Group by 4.9% in the fourth quarter. Guggenheim Capital LLC now owns 134,193 shares of the accessories brand company’s stock valued at $1,041,000 after acquiring an additional 6,266 shares during the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

FOSL stock opened at $20.52 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.21 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.01 billion, a PE ratio of 410.40, a P/E/G ratio of 17.50 and a beta of -0.11. Fossil Group has a 1 year low of $5.50 and a 1 year high of $20.65.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Tuesday, May 8th. The accessories brand company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The company had revenue of $569.20 million during the quarter, compared to analysts’ expectations of $539.08 million. Fossil Group had a negative net margin of 17.23% and a negative return on equity of 4.36%. Fossil Group’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.00) earnings per share. equities research analysts predict that Fossil Group will post 0.23 EPS for the current fiscal year.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.

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