Kanen Wealth Management LLC Has $4.88 Million Stock Position in Fossil Group, Inc. $FOSL

Kanen Wealth Management LLC lowered its position in Fossil Group, Inc. (NASDAQ:FOSL) by 22.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,132,802 shares of the accessories brand company’s stock after selling 325,876 shares during the period. Fossil Group makes up about 1.8% of Kanen Wealth Management LLC’s portfolio, making the stock its 17th largest position. Kanen Wealth Management LLC’s holdings in Fossil Group were worth $4,882,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FOSL. Goldman Sachs Group Inc. grew its stake in Fossil Group by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock valued at $166,000 after acquiring an additional 43,849 shares during the period. Jane Street Group LLC raised its position in shares of Fossil Group by 93.1% during the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock worth $49,000 after purchasing an additional 20,530 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Fossil Group by 154.1% during the 1st 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Fossil Group during the 2nd quarter valued at about $122,000. Finally, Nantahala Capital Management LLC grew its position in shares of Fossil Group by 21.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock valued at $7,530,000 after purchasing an additional 898,626 shares during the period. Institutional investors and hedge funds own 61.14% of the company’s stock.

Fossil Group Stock Performance

FOSL opened at $4.44 on Wednesday. The company has a market capitalization of $262.40 million, a price-to-earnings ratio of -3.89 and a beta of 1.63. The business’s 50-day moving average price is $4.16 and its two-hundred day moving average price is $4.26. Fossil Group, Inc. has a 1 year low of $1.54 and a 1 year high of $5.74. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.72 and a quick ratio of 1.10.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FOSL. Wall Street Zen upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fossil Group currently has an average rating of “Hold” and a consensus price target of $7.00.

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.