Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Fossil Group, Inc. $FOSL

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Fossil Group by 85.1%, owning approximately 224,530 shares worth $258,000, according to its recent SEC filing.
• Fossil Group's stock is currently down 6.3% and has a market capitalization of $159.19 million, with a 12-month trading range between $0.86 and $3.58.
• Wall Street analysts have given Fossil Group an average rating of "Buy" with a target price of $5.00, indicating positive sentiment amid financial challenges.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fossil Group, Inc. (NASDAQ:FOSL - Free Report) by 85.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,530 shares of the accessories brand company's stock after purchasing an additional 103,203 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.42% of Fossil Group worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Fossil Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 497,386 shares of the accessories brand company's stock worth $831,000 after purchasing an additional 7,211 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Fossil Group by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 203,050 shares of the accessories brand company's stock worth $339,000 after purchasing an additional 8,286 shares in the last quarter. Northern Trust Corp increased its position in Fossil Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 117,199 shares of the accessories brand company's stock worth $196,000 after purchasing an additional 17,221 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Fossil Group during the 4th quarter worth about $29,000. Finally, Raymond James Financial Inc. purchased a new stake in Fossil Group during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 61.14% of the company's stock.

Fossil Group Stock Down 6.3%

FOSL opened at $2.96 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The stock has a market capitalization of $159.19 million, a price-to-earnings ratio of -2.67 and a beta of 2.53. The business has a 50-day moving average of $1.73 and a two-hundred day moving average of $1.47. Fossil Group, Inc. has a 12 month low of $0.86 and a 12 month high of $3.58.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.11. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.The company had revenue of $220.40 million during the quarter, compared to analysts' expectations of $198.04 million.

Wall Street Analyst Weigh In

A number of research firms recently commented on FOSL. Wall Street Zen upgraded Fossil Group from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Maxim Group assumed coverage on Fossil Group in a report on Tuesday, July 1st. They issued a "buy" rating and a $5.00 price target for the company. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $5.00.

About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.

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