Fidelity Management & Research Co.. recently announced the acquisition of new stake in Fossil Group Inc. (NASDAQ:FOSL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.02% to 7.39 million shares with purchase of 1399.0 shares. This fresh investment now brings its stake to 14.40% valued currently at $24.45 million. In addition, BlackRock Fund Advisors raised its holdings by 0.12 million to 6.86 million shares. And SSgA Funds Management, Inc. has lifted its position by 47.82% or 1.05 million shares – to 3.23 million shares.
With over 1.07 million Fossil Group Inc. (FOSL) shares trading Friday and a closing price of $5.37 on the day, the dollar volume was approximately $5.77 million. The shares have shown a negative weekly performance of -4.45% and its price on 08/21/20 lost nearly -4.45%. Currently, there are 51.19M common shares owned by the public and among those 46.32M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for FOSL have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Fossil Group Inc. stock is 4.00 for the next 12 months. The average price target is -114.8% below its last price level and a downside to the estimated low will see the stock lose -114.8% over that period. But an upside of -114.8% will see the stock hit the forecast high price target while mean target price for the stock is $2.50.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 741,787 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 85,395 shares.
The top 3 mutual fund holders in Fossil Group Inc. are Contrarius ICAV – Global Equity F, Fidelity Low Priced Stock Fund, and iShares Core S&P Small Cap ETF. Contrarius ICAV – Global Equity F owns 4.48 million shares of the company’s stock, all valued at over $14.82 million. The company sold 27.0 shares recently to bring their total holdings to about 8.73% of the shares outstanding. Fidelity Low Priced Stock Fund sold 4318.0 shares to see its total holdings shrink to 4.07 million shares valued at over $13.46 million and representing 7.93% of the shares outstanding. iShares Core S&P Small Cap ETF bought 10500.0 shares to bring its total holdings to over 2.94 million shares at a value of $9.73 million. iShares Core S&P Small Cap ETF now owns shares totaling to 5.73% of the shares outstanding.
Shares of Fossil Group Inc. (NASDAQ: FOSL) opened at $5.60, down -$0.02 from a prior closing price of $5.62. However, the script later closed the day at $5.37, down -4.45%. The company’s stock has a 5-day price change of -4.45% and 66.25% over the past three months. FOSL shares are trading -31.85% year to date (YTD), with the 12-month market performance down to -49.10% lower. It has a 12-month low price of $2.69 and touched a high of $14.11 over the same period. Currently, 1.07 million shares have been traded, compared to an average intraday trading volume of 2.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 22.53%, 22.54%, and 0.48% respectively.
Institutional ownership of Fossil Group Inc. (NASDAQ: FOSL) shares accounts for 99.60% of the company’s 51.19M shares outstanding. Mutual fund holders own 26.06%, while other institutional holders and individual stakeholders account for 74.25% and 12.75% respectively.
It has a market capitalization of $288.32M and a beta (3y monthly) value of 1.04. The earnings-per-share (ttm) stands at -$2.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.27% over the week and 8.94% over the month.
Analysts forecast that Fossil Group Inc. (FOSL) will achieve an EPS of -$0.72 for the current quarter, $0.18 for the next quarter and -$1.14 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.72 while analysts give the company a high EPS estimate of -$0.72. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -312.70%, and 49.80% over the next financial year. EPS should grow at an annualized rate of 14.90% over the next five years, compared to -16.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Fossil Group Inc. (FOSL) as a “Moderate Sell” at a consensus score of 4.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FOSL, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Market Perform rating for the stock in a research note on February 27, 2020, with the firm’s price target at $7-$5. KeyBanc Capital Markets coverage for the Fossil Group Inc. (FOSL) stock in a research note released on November 07, 2019 offered a Sector Weight rating with a price target of. Telsey Advisory Group was of a view on August 05, 2019 that the stock is Market Perform, while Telsey Advisory Group gave the stock Market Perform rating on February 14, 2019, issuing a price target of $17- $15. Telsey Advisory Group on their part issued Market Perform rating on February 08, 2019.