Prescott Group Capital Management L.L.C. Increases Stock Holdings in Fossil Group, Inc. $FOSL

Key Points

• Prescott Group Capital Management sharply increased its stake in Fossil Group, boosting holdings by 1,220.7% in the fourth quarter to 875,026 shares, worth about $3.29 million.
• Several other institutional investors also raised or opened positions in FOSL, and hedge funds and institutions now own 61.14% of the company’s stock.
• Fossil Group reported quarterly earnings that beat expectations, posting a smaller-than-expected loss of ($0.03) EPS versus consensus for a larger loss, while revenue of $224.76 million also topped estimates.

Prescott Group Capital Management L.L.C. grew its position in Fossil Group, Inc. (NASDAQ:FOSL - Free Report) by 1,220.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 875,026 shares of the accessories brand company's stock after buying an additional 808,770 shares during the quarter. Prescott Group Capital Management L.L.C. owned 1.60% of Fossil Group worth $3,290,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mink Brook Asset Management LLC purchased a new position in shares of Fossil Group in the third quarter valued at $386,000. Two Sigma Investments LP boosted its stake in shares of Fossil Group by 36.0% during the third quarter. Two Sigma Investments LP now owns 948,114 shares of the accessories brand company's stock valued at $2,437,000 after acquiring an additional 251,214 shares during the last quarter. UBS Group AG boosted its stake in shares of Fossil Group by 57.0% during the third quarter. UBS Group AG now owns 561,585 shares of the accessories brand company's stock valued at $1,443,000 after acquiring an additional 203,835 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake 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 valued at $1,209,000 after acquiring an additional 460,000 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake 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 valued at $936,000 after acquiring an additional 306,209 shares during the last quarter. Hedge funds and other institutional investors own 61.14% of the company's stock.

Wall Street Analyst Weigh In

FOSL has been the topic of a number of analyst reports. Maxim Group increased their price objective on Fossil Group from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Wall Street Zen raised Fossil Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Northland Securities initiated coverage on Fossil Group in a research note on Thursday, February 19th. They set an "outperform" rating and a $7.00 price objective on the stock. Zacks Research raised Fossil Group to a "hold" rating in a research note on Friday, February 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fossil Group in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $7.00.

Insider Transactions at Fossil Group

In other Fossil Group news, Director Wendy Lee Schoppert purchased 24,331 shares of the firm's stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $4.14 per share, with a total value of $100,730.34. Following the purchase, the director 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.90% of the company's stock.

Fossil Group Stock Up 1.8%

Shares of NASDAQ:FOSL opened at $3.95 on Thursday. The stock's 50-day moving average price is $4.58 and its two-hundred day moving average price is $3.88. The company has a current ratio of 1.72, a quick ratio of 1.10 and a debt-to-equity ratio of 2.32. Fossil Group, Inc. has a 12-month low of $1.27 and a 12-month high of $5.74. The firm has a market cap of $233.45 million, a price-to-earnings ratio of -3.46 and a beta of 1.64.

Fossil Group (NASDAQ:FOSL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The accessories brand company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $224.76 million for the quarter, compared to analyst estimates of $204.74 million. On average, research analysts forecast that Fossil Group, Inc. will post -0.15 EPS for the current year.

Fossil Group 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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