Synovus Financial Corp trimmed its holdings in shares of Fossil Group Inc (NASDAQ:FOSL) by 96.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,263 shares of the accessories brand company’s stock after selling 86,938 shares during the period. Synovus Financial Corp’s holdings in Fossil Group were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of FOSL. D. E. Shaw & Co. Inc. increased its position in shares of Fossil Group by 39.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,744,558 shares of the accessories brand company’s stock valued at $20,062,000 after acquiring an additional 492,935 shares during the last quarter. Scopia Capital Management LP purchased a new stake in shares of Fossil Group during the second quarter valued at approximately $4,553,000. Bogle Investment Management L P DE increased its position in shares of Fossil Group by 531.6% during the second quarter. Bogle Investment Management L P DE now owns 325,317 shares of the accessories brand company’s stock valued at $3,741,000 after acquiring an additional 273,808 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Fossil Group during the second quarter valued at approximately $3,111,000. Finally, Prudential Financial Inc. increased its position in shares of Fossil Group by 50.9% during the second quarter. Prudential Financial Inc. now owns 484,168 shares of the accessories brand company’s stock valued at $5,568,000 after acquiring an additional 163,240 shares during the last quarter.
In other news, EVP Gregory A. Mckelvey acquired 100,000 shares of Fossil Group stock in a transaction on 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 completion of the acquisition, the executive vice president now owns 432,093 shares in the company, valued at $4,260,436.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory A. Mckelvey purchased 33,600 shares of the business’s 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 acquisition, the executive vice president now directly owns 432,093 shares of the company’s stock, valued at $4,415,990.46. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 153,600 shares of company stock valued at $1,529,992. 8.00% of the stock is owned by corporate insiders.
A number of analysts recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $12.00 price target (down from $15.00) on shares of Fossil Group in a research report on Monday, August 5th. Wells Fargo & Co reduced their price objective on Fossil Group from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. BidaskClub raised Fossil Group from a “hold” rating to a “buy” rating in a report on Friday. TheStreet lowered Fossil Group from a “c-” rating to a “d” rating in a report on Thursday, November 7th. Finally, Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $10.33.
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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