Fossil Group (NASDAQ:FOSL) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Fossil Group (NASDAQ:FOSL) issued its quarterly earnings data on Wednesday. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16, FiscalAI reports. The business had revenue of $209.70 million during the quarter, compared to analysts’ expectations of $199.33 million. Fossil Group had a negative return on equity of 48.51% and a negative net margin of 6.19%.

Fossil Group Price Performance

NASDAQ:FOSL traded up $0.03 during trading hours on Wednesday, hitting $5.27. 1,116,686 shares of the stock were exchanged, compared to its average volume of 806,954. The firm’s fifty day moving average price is $4.41 and its 200 day moving average price is $4.37. Fossil Group has a 52-week low of $1.70 and a 52-week high of $6.16. The company has a market cap of $311.47 million, a P/E ratio of -4.62 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.

Insider Buying and Selling at Fossil Group

In other news, Director Wendy Lee Schoppert purchased 24,331 shares of the stock in a transaction dated 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 completion of the purchase, the director directly owned 120,625 shares of the company’s stock, valued at approximately $499,387.50. The trade was a 25.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FOSL. Kanen Wealth Management LLC acquired a new stake in shares of Fossil Group in the fourth quarter valued at about $5,515,000. Nantahala Capital Management LLC boosted its position in Fossil Group by 35.4% during the fourth quarter. Nantahala Capital Management LLC now owns 5,064,359 shares of the accessories brand company’s stock worth $19,042,000 after acquiring an additional 1,323,202 shares during the last quarter. Quinn Opportunity Partners LLC boosted its position in Fossil Group by 4,465.6% during the third quarter. Quinn Opportunity Partners LLC now owns 470,301 shares of the accessories brand company’s stock worth $1,209,000 after acquiring an additional 460,000 shares during the last quarter. Fund 1 Investments LLC grew its stake in Fossil Group by 180.7% during 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 acquiring an additional 413,349 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Fossil Group by 527.2% during the 3rd quarter. Bank of America Corp DE now owns 364,296 shares of the accessories brand company’s stock valued at $936,000 after acquiring an additional 306,209 shares in the last quarter. 61.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen upgraded Fossil Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research note on Friday, July 17th. Two investment 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, the stock presently has an average rating of “Hold” and a consensus target price 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.