Fossil Group (NASDAQ:FOSL) Share Price Passes Above 200-Day Moving Average – What’s Next?

Fossil Group, Inc. (NASDAQ:FOSL) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.19 and traded as high as $4.19. Fossil Group shares last traded at $4.17, with a volume of 1,014,211 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research report on Tuesday, April 21st. Finally, Maxim Group increased their price objective on Fossil Group from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Two equities 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.00.

Fossil Group Stock Up 4.2%

The company’s 50-day moving average is $4.38 and its 200 day moving average is $4.19. The stock has a market capitalization of $256.80 million, a PE ratio of -3.81 and a beta of 1.62. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 2.32.

Fossil Group (NASDAQ:FOSL) last released its earnings results 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. Fossil Group had a negative net margin of 6.19% and a negative return on equity of 48.51%. The company had revenue of $224.76 million for the quarter, compared to the consensus estimate of $204.74 million. As a group, analysts anticipate that Fossil Group, Inc. will post -0.15 EPS for the current year.

Insider Buying and Selling at Fossil Group

In other news, Director Wendy Lee Schoppert bought 24,331 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 120,625 shares in the company, valued at approximately $499,387.50. The trade was a 25.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FOSL. Kanen Wealth Management LLC acquired a new stake in shares of Fossil Group during the fourth quarter worth about $5,515,000. Nantahala Capital Management LLC grew its position in Fossil Group by 35.4% during the 4th quarter. Nantahala Capital Management LLC now owns 5,064,359 shares of the accessories brand company’s stock worth $19,042,000 after purchasing an additional 1,323,202 shares during the period. Prescott Group Capital Management L.L.C. grew its position in Fossil Group by 1,220.7% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 875,026 shares of the accessories brand company’s stock worth $3,290,000 after purchasing an additional 808,770 shares during the period. Quinn Opportunity Partners LLC raised its stake in shares of Fossil Group by 4,465.6% during the 3rd quarter. Quinn Opportunity Partners LLC now owns 470,301 shares of the accessories brand company’s stock valued at $1,209,000 after buying an additional 460,000 shares during the last quarter. Finally, Fund 1 Investments LLC lifted its holdings in shares of Fossil Group by 180.7% in the 4th quarter. Fund 1 Investments LLC now owns 642,043 shares of the accessories brand company’s stock valued at $2,414,000 after buying an additional 413,349 shares during the period. 61.14% of the stock is owned by institutional investors and hedge funds.

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.