Nantahala Capital Management LLC Buys 862,500 Shares of Fossil Group, Inc. $FOSL

Key Points

• Nantahala Capital Management LLC increased its stake in Fossil Group, Inc. by 25.9%, acquiring an additional 862,500 shares, bringing its total to 4,189,177 shares, representing approximately 7.81% of the company.
• Fossil Group's shares opened at $3.06, with a twelve-month range between $0.86 and $3.58, and the company reported a revenue of $220.40 million in its latest quarterly earnings, surpassing analysts' expectations.
• Equities analysts have recently upgraded Fossil Group's rating from "hold" to "buy," with a consensus price target of $5.00 from the market, reflecting a positive outlook on the company's performance.

Nantahala Capital Management LLC grew its stake in Fossil Group, Inc. (NASDAQ:FOSL - Free Report) by 25.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,189,177 shares of the accessories brand company's stock after purchasing an additional 862,500 shares during the period. Nantahala Capital Management LLC owned approximately 7.81% of Fossil Group worth $4,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOSL. Raymond James Financial Inc. purchased a new stake in shares of Fossil Group in the fourth quarter worth approximately $35,000. Dimensional Fund Advisors LP boosted its position in shares of Fossil Group by 4.3% in 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 boosted its position in shares of Fossil Group by 17.2% in 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. Ameriprise Financial Inc. lifted its position in Fossil Group by 1.2% during the 4th quarter. Ameriprise Financial Inc. now owns 2,358,189 shares of the accessories brand company's stock worth $3,938,000 after acquiring an additional 27,906 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in Fossil Group by 193.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 323,300 shares of the accessories brand company's stock worth $540,000 after acquiring an additional 213,300 shares during the period. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

Fossil Group Price Performance

Shares of Fossil Group stock opened at $3.06 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. Fossil Group, Inc. has a twelve month low of $0.86 and a twelve month high of $3.58. The business has a 50-day moving average price of $1.95 and a 200 day moving average price of $1.53. The firm has a market cap of $164.58 million, a PE ratio of -2.76 and a beta of 2.21.

Fossil Group (NASDAQ:FOSL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share 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 firm had revenue of $220.40 million during the quarter, compared to analyst estimates of $198.04 million.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Fossil Group from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Maxim Group assumed coverage on Fossil Group in a research note on Tuesday, July 1st. They set a "buy" rating and a $5.00 price objective for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $5.00.

Fossil Group Company Profile

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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