Fossil Group Inc (NASDAQ:FOSL) Short Interest Update

Fossil Group Inc (NASDAQ:FOSL) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 11,160,000 shares, a drop of 11.5% from the September 30th total of 12,610,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 8.0 days. Currently, 24.5% of the company’s shares are short sold.

A number of brokerages recently weighed in on FOSL. Wells Fargo & Co dropped their price target on Fossil Group from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $12.00 price target (down previously from $15.00) on shares of Fossil Group in a research note on Monday, August 5th. Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, October 23rd. ValuEngine raised Fossil Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, TheStreet cut Fossil Group from a “c-” rating to a “d” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.33.

NASDAQ:FOSL traded down $0.57 on Monday, hitting $7.32. 66,416 shares of the company’s stock traded hands, compared to its average volume of 1,540,501. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 1.04. Fossil Group has a 1 year low of $7.67 and a 1 year high of $22.24. The firm has a 50-day moving average price of $10.98 and a 200-day moving average price of $11.36. The company has a market cap of $395.04 million, a PE ratio of 9.37 and a beta of 0.40.

In related news, insider Darren E. Hart purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $10.03 per share, with a total value of $200,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory A. Mckelvey purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $9.86 per share, for a total transaction of $986,000.00. Following the purchase, the executive vice president now directly owns 432,093 shares in the company, valued at approximately $4,260,436.98. The disclosure for this purchase can be found here. Insiders purchased a total of 153,600 shares of company stock worth $1,529,992 in the last three months. 8.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Fossil Group by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,144,848 shares of the accessories brand company’s stock valued at $82,166,000 after acquiring an additional 111,037 shares in the last quarter. BlackRock Inc. lifted its holdings in Fossil Group by 1.9% in the 2nd quarter. BlackRock Inc. now owns 6,811,086 shares of the accessories brand company’s stock worth $78,327,000 after purchasing an additional 127,049 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Fossil Group by 39.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,744,558 shares of the accessories brand company’s stock worth $20,062,000 after purchasing an additional 492,935 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Fossil Group by 27.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 679,871 shares of the accessories brand company’s stock worth $7,819,000 after purchasing an additional 146,150 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Fossil Group by 3.1% in the 2nd quarter. Northern Trust Corp now owns 610,091 shares of the accessories brand company’s stock worth $7,017,000 after purchasing an additional 18,461 shares during the last quarter.

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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