Scopia Capital Management LP Acquires New Stake in Fossil Group Inc (NASDAQ:FOSL)

Share on StockTwits

Scopia Capital Management LP acquired a new stake in shares of Fossil Group Inc (NASDAQ:FOSL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 395,925 shares of the accessories brand company’s stock, valued at approximately $4,553,000. Fossil Group comprises 0.2% of Scopia Capital Management LP’s portfolio, making the stock its 19th biggest holding. Scopia Capital Management LP owned 0.78% of Fossil Group at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Fossil Group by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,698 shares of the accessories brand company’s stock worth $26,989,000 after purchasing an additional 169,086 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Fossil Group by 154.4% during the first quarter. BNP Paribas Arbitrage SA now owns 11,786 shares of the accessories brand company’s stock worth $162,000 after purchasing an additional 7,154 shares in the last quarter. Comerica Bank grew its position in shares of Fossil Group by 2.6% during the first quarter. Comerica Bank now owns 47,238 shares of the accessories brand company’s stock worth $632,000 after purchasing an additional 1,213 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Fossil Group by 4.1% during the first quarter. Texas Permanent School Fund now owns 30,988 shares of the accessories brand company’s stock worth $425,000 after purchasing an additional 1,214 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Fossil Group by 567.1% during the first quarter. JPMorgan Chase & Co. now owns 1,572,406 shares of the accessories brand company’s stock worth $21,574,000 after purchasing an additional 1,336,698 shares in the last quarter.

In related news, EVP Gregory A. Mckelvey acquired 100,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $9.86 per share, with a total value of $986,000.00. Following the purchase, the executive vice president now directly owns 432,093 shares of the company’s stock, valued at $4,260,436.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory A. Mckelvey acquired 33,600 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $10.22 per share, with a total value of $343,392.00. Following the completion of the purchase, the executive vice president now directly owns 432,093 shares in the company, valued at $4,415,990.46. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 153,600 shares of company stock valued at $1,529,992. 8.00% of the stock is owned by corporate insiders.

Fossil Group stock traded up $0.13 during midday trading on Friday, reaching $12.34. 679,305 shares of the stock traded hands, compared to its average volume of 1,618,742. The stock’s fifty day moving average is $11.42 and its 200-day moving average is $12.18. Fossil Group Inc has a 12 month low of $9.00 and a 12 month high of $25.21. The stock has a market cap of $619.27 million, a P/E ratio of 15.82 and a beta of 0.45. The company has a quick ratio of 1.05, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Wednesday, August 7th. The accessories brand company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Fossil Group had a return on equity of 6.94% and a net margin of 1.40%. The company had revenue of $501.40 million during the quarter, compared to analyst estimates of $499.05 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue was down 13.0% on a year-over-year basis. On average, equities analysts predict that Fossil Group Inc will post 1.49 EPS for the current fiscal year.

Several analysts recently issued reports on FOSL shares. BidaskClub cut Fossil Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. ValuEngine lowered Fossil Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $12.00 price target (down from $15.00) on shares of Fossil Group in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.00.

Fossil Group Company Profile

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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

Want to see what other hedge funds are holding FOSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fossil Group Inc (NASDAQ:FOSL).

Institutional Ownership by Quarter for Fossil Group (NASDAQ:FOSL)

Receive News & Ratings for Fossil Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fossil Group and related companies with MarketBeat.com's FREE daily email newsletter.