Investors Purchase Large Volume of Fossil Group Put Options (NASDAQ:FOSL)

Fossil Group, Inc. (NASDAQ:FOSL) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 9,795 put options on the stock. This represents an increase of approximately 510% compared to the average daily volume of 1,605 put options.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total value of $12,136,750.00. Following the transaction, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at approximately $47,226,600.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the transaction, the chairman now directly owns 3,445,546 shares in the company, valued at $36,901,797.66. The disclosure for this sale can be found here. Insiders sold a total of 2,220,281 shares of company stock worth $23,790,210 over the last three months. 12.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOSL. Koch Industries Inc. purchased a new position in Fossil Group during the first quarter worth about $196,000. Wayne Hummer Investments L.L.C. purchased a new position in Fossil Group during the first quarter worth about $205,000. Renaissance Technologies LLC purchased a new position in Fossil Group during the fourth quarter worth about $217,000. Laurion Capital Management LP purchased a new position in Fossil Group during the first quarter worth about $228,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Fossil Group during the first quarter worth about $246,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the stock. Wells Fargo & Company set a $12.00 price objective on shares of Fossil Group and gave the company a “sell” rating in a research note on Wednesday, May 10th. Telsey Advisory Group dropped their price objective on shares of Fossil Group from $23.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 10th. Nomura reissued a “hold” rating and issued a $13.00 price objective on shares of Fossil Group in a research note on Friday, May 12th. Buckingham Research raised shares of Fossil Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price objective on shares of Fossil Group in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Fossil Group has an average rating of “Hold” and a consensus price target of $19.89.

Shares of Fossil Group (NASDAQ FOSL) opened at 10.13 on Friday. Fossil Group has a 52 week low of $8.98 and a 52 week high of $36.87. The firm has a market capitalization of $490.94 million, a PE ratio of 19.86 and a beta of 0.71. The company has a 50-day moving average of $10.94 and a 200-day moving average of $18.51.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $582 million for the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. Fossil Group’s revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, equities analysts forecast that Fossil Group will post $0.84 earnings per share for the current fiscal year.

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Fossil Group Company Profile

Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.

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