Fossil Group Inc (NASDAQ:FOSL) Short Interest Up 9.8% in July

Fossil Group Inc (NASDAQ:FOSL) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 14,802,200 shares, a growth of 9.8% from the June 30th total of 13,475,900 shares. Approximately 33.0% of the company’s stock are short sold. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 12.1 days.

A number of analysts have issued reports on the company. ValuEngine downgraded Fossil Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Telsey Advisory Group reissued a “market perform” rating and issued a $12.00 target price (down from $15.00) on shares of Fossil Group in a research report on Monday, August 5th. Finally, BidaskClub raised Fossil Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.00.

NASDAQ:FOSL traded up $0.31 during mid-day trading on Friday, reaching $9.42. 59,085 shares of the company’s stock traded hands, compared to its average volume of 1,407,411. Fossil Group has a 12-month low of $9.00 and a 12-month high of $26.89. The firm has a market capitalization of $503.71 million, a price-to-earnings ratio of 12.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.05. The company has a 50 day moving average price of $10.62 and a 200-day moving average price of $12.76.



Fossil Group (NASDAQ:FOSL) last posted its earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $501.40 million for the quarter, compared to the consensus estimate of $499.05 million. Fossil Group had a return on equity of 6.94% and a net margin of 1.40%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) EPS. As a group, analysts forecast that Fossil Group will post 1.49 EPS for the current year.

In other Fossil Group news, EVP Martin Frey purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average cost of $9.70 per share, for a total transaction of $48,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.00% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new position in Fossil Group during the first quarter worth approximately $26,000. US Bancorp DE increased its position in Fossil Group by 523.7% during the second quarter. US Bancorp DE now owns 2,551 shares of the accessories brand company’s stock worth $29,000 after purchasing an additional 2,142 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Fossil Group during the second quarter worth approximately $30,000. Bank of Montreal Can acquired a new position in Fossil Group during the second quarter worth approximately $45,000. Finally, Flinton Capital Management LLC increased its position in Fossil Group by 22.8% during the second quarter. Flinton Capital Management LLC now owns 6,032 shares of the accessories brand company’s stock worth $69,000 after purchasing an additional 1,120 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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