Fossil Group (NASDAQ:FOSL) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Fossil Group, Inc. (NASDAQ:FOSL) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.49 and traded as high as $3.93. Fossil Group shares last traded at $3.88, with a volume of 559,562 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FOSL. Wall Street Zen lowered Fossil Group from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Fossil Group has a consensus rating of “Hold” and an average target price of $5.00.

Fossil Group Trading Down 0.5%

The business has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $2.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.56 and a quick ratio of 1.00. The company has a market cap of $212.00 million, a price-to-earnings ratio of -3.06 and a beta of 1.58.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Thursday, November 13th. The accessories brand company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.27). Fossil Group had a negative net margin of 6.32% and a negative return on equity of 18.08%. The business had revenue of $270.20 million during the quarter, compared to the consensus estimate of $233.32 million.

Insider Buying and Selling at Fossil Group

In other news, insider Joe T. Martin purchased 56,180 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average price of $1.78 per share, for a total transaction of $100,000.40. Following the completion of the acquisition, the insider directly owned 185,761 shares in the company, valued at approximately $330,654.58. The trade was a 43.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Suzanne M. Coulter bought 28,170 shares of Fossil Group stock in a transaction on Wednesday, December 3rd. The shares were bought at an average price of $3.62 per share, for a total transaction of $101,975.40. Following the acquisition, the director owned 98,457 shares of the company’s stock, valued at approximately $356,414.34. The trade was a 40.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 389,652 shares of company stock valued at $816,874 over the last three months. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Fossil Group

Several hedge funds and other institutional investors have recently made changes to their positions in FOSL. Nantahala Capital Management LLC grew its position in shares of Fossil Group by 21.5% during the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after purchasing an additional 898,626 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Fossil Group by 4,465.6% in 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 buying an additional 460,000 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Fossil Group by 527.2% in 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 buying an additional 306,209 shares during the period. Acadian Asset Management LLC grew its position in Fossil Group by 154.1% during the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock worth $527,000 after buying an additional 278,391 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Fossil Group by 36.0% during the 3rd quarter. Two Sigma Investments LP now owns 948,114 shares of the accessories brand company’s stock worth $2,437,000 after acquiring an additional 251,214 shares during the period. 61.14% of the stock is owned by institutional investors.

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.