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

Fossil Group, Inc. (NASDAQ:FOSL)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.12 and traded as high as $4.50. Fossil Group shares last traded at $4.39, with a volume of 512,043 shares.

Analyst Ratings Changes

A number of brokerages recently commented on FOSL. Northland Securities began coverage on Fossil Group in a report on Thursday, February 19th. They set an “outperform” rating and a $7.00 target price for the company. Wall Street Zen upgraded Fossil Group from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Maxim Group lifted their target price on shares of Fossil Group from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded Fossil Group to a “hold” rating in a report on Friday, February 20th. Two equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Fossil Group Trading Up 5.0%

The stock has a 50 day moving average of $4.54 and a 200-day moving average of $4.12. The company has a market capitalization of $259.45 million, a P/E ratio of -3.85 and a beta of 1.62. 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 (NASDAQ:FOSL) last issued its earnings results on Wednesday, May 13th. The accessories brand company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.25. The company had revenue of $224.76 million during the quarter, compared to the consensus estimate of $204.74 million. Fossil Group had a negative net margin of 6.19% and a negative return on equity of 48.51%. On average, research analysts predict that Fossil Group, Inc. will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other Fossil Group news, Director Wendy Lee Schoppert purchased 24,331 shares of the company’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $4.14 per share, for a total transaction of $100,730.34. Following the purchase, the director directly owned 120,625 shares of the company’s stock, valued at $499,387.50. This trade represents a 25.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Carrera Capital Advisors bought a new position in shares of Fossil Group during the 4th quarter valued at about $38,000. Wexford Capital LP bought a new position in shares of Fossil Group during the 3rd quarter valued at approximately $28,000. EHP Funds Inc. bought a new position in shares of Fossil Group during the 3rd quarter valued at approximately $28,000. Qube Research & Technologies Ltd bought a new position in shares of Fossil Group during the 3rd quarter valued at approximately $39,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Fossil Group during the 4th quarter valued at approximately $63,000. Institutional investors own 61.14% of the company’s stock.

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.