Fossil Group (NASDAQ:FOSL) Shares Pass Above 200-Day Moving Average – Should You Sell?

Fossil Group, Inc. (NASDAQ:FOSL) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.63 and traded as high as $5.87. Fossil Group shares last traded at $5.86, with a volume of 717,226 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on FOSL. Northland Securities set a $8.00 price objective on Fossil Group in a report on Thursday, August 13th. Craig Hallum initiated coverage on Fossil Group in a research note on Thursday, September 10th. They set a “buy” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fossil Group currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Fossil Group Stock Down 3.7%

The stock’s fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $4.64. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 1.05. The company has a market capitalization of $364.89 million, a price-to-earnings ratio of -4.82 and a beta of 1.61.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. Fossil Group had a negative net margin of 7.09% and a negative return on equity of 59.76%. The business had revenue of $209.69 million during the quarter, compared to the consensus estimate of $199.33 million. On average, sell-side analysts predict that Fossil Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Fossil Group

In related news, Director Pamela J. Edwards acquired 7,208 shares of Fossil Group stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $5.58 per share, for a total transaction of $40,220.64. Following the transaction, the director directly owned 50,251 shares of the company’s stock, valued at $280,400.58. This trade represents a 16.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fossil Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC bought a new position in shares of Fossil Group during the second quarter worth about $22,791,230. BlackRock Inc. bought a new stake in Fossil Group in the 2nd quarter valued at about $15,263,000. Miller Value Partners LLC bought a new stake in Fossil Group in the 2nd quarter valued at about $8,874,000. Fund 1 Investments LLC acquired a new position in Fossil Group during the 2nd quarter valued at about $2,223,000. Finally, Sei Investments Co. boosted its stake in Fossil Group by 107.6% during the 1st quarter. Sei Investments Co. now owns 253,771 shares of the accessories brand company’s stock valued at $1,094,000 after purchasing an additional 131,531 shares during the period. Institutional investors and hedge funds own 61.14% of the company’s stock.

Fossil Group Company Profile

Fossil Group, Inc is a global design, marketing and distribution company focused on fashion accessories. The company is best known for its watches, including products sold under the Fossil brand and licensed brands, and also offers jewelry, handbags, small leather goods and other accessories.

Fossil Group sells products through a combination of wholesale customers, company-operated retail stores, e-commerce websites and other direct-to-consumer channels. Its products are distributed across North America, Europe, Asia and other international markets, serving consumers through department stores, specialty retailers and digital platforms.

Founded in 1984 and headquartered in Richardson, Texas, Fossil Group has expanded from its original watch business into a broader accessories company.