Fossil Group (NASDAQ:FOSL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Fossil Group, Inc. (NASDAQ:FOSL) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.60 and traded as high as $3.88. Fossil Group shares last traded at $3.83, with a volume of 650,085 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on FOSL shares. Wall Street Zen cut Fossil Group from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings reiterated 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Fossil Group Stock Performance

The firm has a market capitalization of $209.27 million, a PE ratio of -3.02 and a beta of 1.61. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 1.76. The business’s 50 day simple moving average is $3.10 and its two-hundred day simple moving average is $2.60.

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 return on equity of 18.08% and a negative net margin of 6.32%.The firm had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $233.32 million.

Insiders Place Their Bets

In other Fossil Group news, insider Joe T. Martin acquired 56,180 shares of the stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $1.78 per share, for a total transaction of $100,000.40. Following the purchase, the insider directly owned 185,761 shares of the company’s stock, valued at approximately $330,654.58. This trade represents a 43.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Suzanne M. Coulter acquired 28,170 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average cost 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 $356,414.34. The trade was a 40.08% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 389,652 shares of company stock valued at $816,874. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Fossil Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOSL. Bridgeway Capital Management LLC boosted its stake in shares of Fossil Group by 2.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock worth $629,000 after acquiring an additional 10,249 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of Fossil Group in the 3rd quarter worth $28,000. EHP Funds Inc. bought a new position in Fossil Group in the 3rd quarter worth $28,000. Ameriprise Financial Inc. lifted its position in Fossil Group by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock valued at $3,643,000 after purchasing an additional 13,091 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Fossil Group during the third quarter valued at about $39,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

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.