Spark Investment Management LLC Purchases 186,721 Shares of Fossil Group Inc (FOSL)

Spark Investment Management LLC boosted its position in shares of Fossil Group Inc (NASDAQ:FOSL) by 48.7% in the 1st quarter, Holdings Channel reports. The firm owned 569,821 shares of the accessories brand company’s stock after buying an additional 186,721 shares during the quarter. Spark Investment Management LLC’s holdings in Fossil Group were worth $7,817,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Raymond James & Associates bought a new stake in Fossil Group in the 1st quarter valued at $553,000. Systematic Financial Management LP raised its stake in Fossil Group by 5.3% in the 1st quarter. Systematic Financial Management LP now owns 78,005 shares of the accessories brand company’s stock valued at $1,070,000 after acquiring an additional 3,935 shares during the period. Texas Permanent School Fund raised its stake in Fossil Group by 4.1% in the 1st quarter. Texas Permanent School Fund now owns 30,988 shares of the accessories brand company’s stock valued at $425,000 after acquiring an additional 1,214 shares during the period. Comerica Bank raised its stake in Fossil Group by 2.6% in the 1st quarter. Comerica Bank now owns 47,238 shares of the accessories brand company’s stock valued at $632,000 after acquiring an additional 1,213 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Fossil Group in the 1st quarter valued at $1,293,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on FOSL shares. ValuEngine upgraded Fossil Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub lowered Fossil Group from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price objective on shares of Fossil Group in a report on Thursday, February 14th. Finally, Wells Fargo & Co decreased their price objective on Fossil Group from $14.00 to $8.00 and set an “underperform” rating on the stock in a report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.00.

In other news, insider Gregory A. Mckelvey sold 249,940 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $3,659,121.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Kosta N. Kartsotis sold 50,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.92, for a total value of $796,000.00. The disclosure for this sale can be found here. Corporate insiders own 8.00% of the company’s stock.

Shares of NASDAQ FOSL opened at $12.82 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86. Fossil Group Inc has a one year low of $12.24 and a one year high of $32.17. The firm has a market capitalization of $638.05 million, a price-to-earnings ratio of 16.44 and a beta of 0.17.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Wednesday, May 8th. The accessories brand company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.11. Fossil Group had a return on equity of 8.88% and a net margin of 1.34%. The firm had revenue of $465.30 million for the quarter, compared to analyst estimates of $453.97 million. During the same period in the prior year, the firm posted ($0.99) EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Equities analysts forecast that Fossil Group Inc will post 0.55 earnings per share for the current fiscal year.

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Fossil Group 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: Can systematic risk be avoided?

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

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