683 Capital Management LLC Makes New Investment in Fossil Group, Inc. $FOSL

Key Points

• 683 Capital Management opened a new position in Fossil Group during the fourth quarter, buying 258,065 shares worth about $970,000. The stake represented about 0.47% of the company.
• Other institutional investors also boosted their holdings, including Nantahala Capital Management and Prescott Group Capital Management, while institutions overall own 61.14% of Fossil Group shares.
• Fossil Group reported better-than-expected quarterly results, with EPS of -$0.03 versus an expected -$0.28 and revenue of $224.76 million above estimates. Shares recently traded around $4.18, and analysts currently rate the stock a consensus Hold with a $7.00 price target.

683 Capital Management LLC purchased a new position in shares of Fossil Group, Inc. (NASDAQ:FOSL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 258,065 shares of the accessories brand company's stock, valued at approximately $970,000. 683 Capital Management LLC owned 0.47% of Fossil Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nantahala Capital Management LLC increased its holdings in shares of 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 buying an additional 1,323,202 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its holdings in shares of Fossil Group by 1,220.7% during the fourth 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 buying an additional 808,770 shares in the last quarter. Quinn Opportunity Partners LLC increased its holdings in shares of 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 buying an additional 460,000 shares in the last quarter. Fund 1 Investments LLC increased its holdings in shares of Fossil Group by 180.7% during the fourth quarter. Fund 1 Investments LLC now owns 642,043 shares of the accessories brand company's stock worth $2,414,000 after buying an additional 413,349 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Fossil Group by 527.2% during the third quarter. Bank of America Corp DE now owns 364,296 shares of the accessories brand company's stock worth $936,000 after buying an additional 306,209 shares in the last quarter. Institutional investors own 61.14% of the company's stock.

Fossil Group Price Performance

Shares of FOSL stock opened at $4.18 on Thursday. Fossil Group, Inc. has a 52-week low of $1.27 and a 52-week high of $5.74. The stock has a market cap of $247.04 million, a PE ratio of -3.67 and a beta of 1.62. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.10 and a current ratio of 1.72. The firm's 50 day moving average price is $4.52 and its two-hundred day moving average price is $4.16.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted 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 analyst estimates of $204.74 million. As a group, analysts forecast that Fossil Group, Inc. will post -0.15 EPS for the current year.

Insider Activity at Fossil Group

In other news, Director Wendy Lee Schoppert acquired 24,331 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $4.14 per share, for a total transaction of $100,730.34. Following the transaction, the director directly owned 120,625 shares in the company, valued at approximately $499,387.50. This represents a 25.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FOSL shares. Zacks Research raised shares of Fossil Group to a "hold" rating in a report on Friday, February 20th. Wall Street Zen raised shares of Fossil Group from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Northland Securities assumed coverage on shares of Fossil Group in a report on Thursday, February 19th. They issued an "outperform" rating and a $7.00 price target for the company. Maxim Group raised their price target on shares of Fossil Group from $5.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Fossil Group in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.00.

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.

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