Kanen Wealth Management LLC Has $4.88 Million Stock Position in Fossil Group, Inc. $FOSL

Key Points

• Kanen Wealth Management reduced its Fossil Group stake by 22.3% in the first quarter, selling 325,876 shares and retaining 1.13 million shares worth approximately $4.88 million, or 1.92% of the company.
• Fossil Group shares opened at $4.44, up 5.5%, after the company reported quarterly revenue of $224.76 million and an adjusted loss of $0.03 per share—both better than analyst expectations.
• Director Wendy Lee Schoppert bought 24,331 shares, increasing her position by 25.27%. Analysts maintain a consensus “Hold” rating with a $7.00 target price, while institutional investors own 61.14% of the stock.

Kanen Wealth Management LLC lowered its position in shares of Fossil Group, Inc. (NASDAQ:FOSL - Free Report) by 22.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,132,802 shares of the accessories brand company's stock after selling 325,876 shares during the quarter. Fossil Group makes up about 1.8% of Kanen Wealth Management LLC's investment portfolio, making the stock its 17th largest position. Kanen Wealth Management LLC owned approximately 1.92% of Fossil Group worth $4,882,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Carrera Capital Advisors bought a new position in Fossil Group in the fourth quarter valued at about $38,000. Wexford Capital LP bought a new stake in Fossil Group during the 3rd quarter worth about $28,000. Qube Research & Technologies Ltd bought a new stake in Fossil Group during the 3rd quarter worth about $39,000. Schonfeld Strategic Advisors LLC acquired a new position in Fossil Group during the 4th quarter valued at about $63,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in Fossil Group during the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 61.14% of the company's stock.

Insider Activity at Fossil Group

In other news, Director Wendy Lee Schoppert purchased 24,331 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $4.14 per share, for a total transaction of $100,730.34. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

Fossil Group Stock Up 5.5%

Shares of Fossil Group stock opened at $4.44 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.72 and a debt-to-equity ratio of 2.32. Fossil Group, Inc. has a 12 month low of $1.54 and a 12 month high of $5.74. The business has a fifty day simple moving average of $4.16 and a 200 day simple moving average of $4.26. The stock has a market cap of $262.40 million, a PE ratio of -3.89 and a beta of 1.63.

Fossil Group (NASDAQ:FOSL - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The accessories brand company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.25. Fossil Group had a negative return on equity of 48.51% and a negative net margin of 6.19%.The business had revenue of $224.76 million during the quarter, compared to the consensus estimate of $204.74 million. Research analysts predict that Fossil Group, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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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