Laurion Capital Management LP bought a new position in shares of Fossil Group Inc (NASDAQ:FOSL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,543 shares of the accessories brand company’s stock, valued at approximately $310,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Aperio Group LLC acquired a new position in Fossil Group in the first quarter valued at about $200,000. Teza Capital Management LLC acquired a new position in Fossil Group during the first quarter worth about $201,000. Xact Kapitalforvaltning AB acquired a new position in Fossil Group during the second quarter worth about $207,000. Royal Bank of Canada grew its holdings in shares of Fossil Group by 170.3% during the first quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock worth $212,000 after purchasing an additional 40,353 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Fossil Group during the second quarter worth about $238,000. 88.87% of the stock is owned by institutional investors.
FOSL has been the topic of several research reports. BidaskClub cut Fossil Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. Telsey Advisory Group boosted their price target on Fossil Group from $16.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, August 3rd. TheStreet upgraded Fossil Group from a “d” rating to a “c-” rating in a report on Wednesday, August 8th. KeyCorp upped their target price on Fossil Group from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, August 8th. Finally, ValuEngine cut Fossil Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.20.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.65. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. The firm had revenue of $576.60 million for the quarter, compared to analyst estimates of $571.95 million. Research analysts predict that Fossil Group Inc will post 0.77 EPS for the current fiscal year.
In related news, EVP Darren E. Hart sold 25,662 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $26.30, for a total value of $674,910.60. Following the completion of the sale, the executive vice president now directly owns 116,325 shares of the company’s stock, valued at approximately $3,059,347.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory A. Mckelvey sold 26,138 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $26.00, for a total value of $679,588.00. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
About Fossil Group
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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