Nordea Investment Management AB raised its stake in shares of Fossil Group, Inc. (NASDAQ:FOSL) by 39.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 302,200 shares of the accessories brand company’s stock after buying an additional 85,600 shares during the quarter. Nordea Investment Management AB owned about 0.62% of Fossil Group worth $2,820,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. AHL Partners LLP purchased a new position in shares of Fossil Group in the second quarter worth $393,000. Numeric Investors LLC purchased a new position in shares of Fossil Group in the second quarter worth $1,630,000. Marshall Wace North America L.P. raised its stake in shares of Fossil Group by 363.9% in the second quarter. Marshall Wace North America L.P. now owns 67,089 shares of the accessories brand company’s stock worth $671,000 after purchasing an additional 52,626 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Fossil Group by 214.8% in the second quarter. Engineers Gate Manager LP now owns 260,043 shares of the accessories brand company’s stock worth $2,691,000 after purchasing an additional 177,446 shares during the last quarter. Finally, Airain ltd purchased a new position in shares of Fossil Group in the second quarter worth $3,214,000. Institutional investors and hedge funds own 92.72% of the company’s stock.
In related news, EVP Gregory A. Mckelvey purchased 110,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $6.22 per share, with a total value of $684,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Martin Frey purchased 7,500 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $7.41 per share, with a total value of $55,575.00. The disclosure for this purchase can be found here. Insiders own 12.80% of the company’s stock.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, November 7th. The accessories brand company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.32. The company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. Fossil Group’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. equities analysts forecast that Fossil Group, Inc. will post -0.22 EPS for the current year.
FOSL has been the subject of several recent analyst reports. Buckingham Research decreased their price target on Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Bank of America decreased their price target on Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. Piper Jaffray Companies set a $10.00 price target on Fossil Group and gave the stock a “hold” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded Fossil Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, ValuEngine cut Fossil Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Fossil Group presently has an average rating of “Hold” and an average target price of $13.54.
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About Fossil Group
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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