BlackRock Inc. Makes New Investment in Fossil Group, Inc. $FOSL

BlackRock Inc. purchased a new stake in Fossil Group, Inc. (NASDAQ:FOSL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,686,704 shares of the accessories brand company's stock, valued at approximately $15,263,000. BlackRock Inc. owned 6.24% of Fossil Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Fossil Group by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company's stock worth $166,000 after acquiring an additional 43,849 shares during the last quarter. Jane Street Group LLC increased its position in shares of Fossil Group by 93.1% during the 1st quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company's stock worth $49,000 after purchasing an additional 20,530 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Fossil Group by 154.1% in the 1st quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company's stock valued at $527,000 after buying an additional 278,391 shares during the period. XTX Topco Ltd purchased a new stake in Fossil Group in the 2nd quarter valued at about $122,000. Finally, Nantahala Capital Management LLC lifted its position in Fossil Group by 21.5% in the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company's stock valued at $7,530,000 after buying an additional 898,626 shares during the last quarter. Institutional investors and hedge funds own 61.14% of the company's stock.

Insider Transactions at Fossil Group

In related news, Director Pamela J. Edwards acquired 7,208 shares of the firm's stock in a transaction dated 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 purchase, the director owned 50,251 shares of the company's stock, valued at $280,400.58. This represents a 16.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FOSL shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fossil Group in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Fossil Group from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Northland Securities set a $8.00 price objective on shares of Fossil Group in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.50.

Fossil Group Trading Up 1.8%

Shares of FOSL stock opened at $5.13 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.76. The stock has a market capitalization of $303.39 million, a P/E ratio of -4.01 and a beta of 1.61. The company has a 50 day moving average price of $4.82 and a 200 day moving average price of $4.57. Fossil Group, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $6.25.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The accessories brand company reported ($0.13) EPS 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 net margin of 7.09% and a negative return on equity of 59.76%. Equities research analysts predict that Fossil Group, Inc. will post -0.04 EPS for the current fiscal year.

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.

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