GSA Capital Partners LLP Buys New Stake in Fossil Group, Inc. $FOSL

GSA Capital Partners LLP purchased a new stake in Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, HoldingsChannel.com reports. The fund purchased 125,595 shares of the accessories brand company’s stock, valued at approximately $520,000.

Several other hedge funds have also bought and sold shares of FOSL. Carrera Capital Advisors purchased a new position in shares of Fossil Group during the fourth quarter valued at about $38,000. Bridgeway Capital Management LLC lifted its position in shares of Fossil Group by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock worth $629,000 after buying an additional 10,249 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Fossil Group by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 163,035 shares of the accessories brand company’s stock valued at $702,000 after buying an additional 10,399 shares during the last quarter. Empowered Funds LLC boosted its stake in Fossil Group by 9.3% during the first quarter. Empowered Funds LLC now owns 124,999 shares of the accessories brand company’s stock valued at $539,000 after buying an additional 10,596 shares during the last quarter. Finally, Wexford Capital LP bought a new position in Fossil Group during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Fossil Group Stock Performance

Shares of Fossil Group stock opened at $5.61 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. The stock’s fifty day moving average is $4.64 and its two-hundred day moving average is $4.47. Fossil Group, Inc. has a 52 week low of $1.70 and a 52 week high of $6.25. The company has a market capitalization of $331.78 million, a PE ratio of -4.38 and a beta of 1.62.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.16. The business had revenue of $209.69 million during the quarter, compared to the consensus estimate of $199.33 million. Fossil Group had a negative return on equity of 59.76% and a negative net margin of 7.09%. As a group, analysts expect that Fossil Group, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Pamela J. Edwards acquired 7,208 shares of the stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $5.58 per share, with a total value of $40,220.64. Following the transaction, the director directly owned 50,251 shares in the company, valued at approximately $280,400.58. This represents a 16.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on FOSL shares. Northland Securities set a $8.00 price objective on Fossil Group in a report on Thursday, August 13th. Wall Street Zen raised shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fossil Group in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.50.

Fossil Group 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.