Look For Institutional Buying In Fossil Group Inc. (NASDAQ: FOSL)

FIVE Stock
FIVE Stock

Fidelity Management & Research Co.. has recently announced that it has increased stake in Fossil Group Inc. (NASDAQ:FOSL) by 0.02%. After grabbing 7.39 million shares, the institutional investor is now in possession of 1399.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 14.40% having worth around $24.45 million. Moreover, BlackRock Fund Advisors increased its share by 0.12 million to have a control over 6.86 million shares. And SSgA Funds Management, Inc. raised its holdings to 1.05 million shares by acquiring 3.23 million shares or 6.31% of the stake.

Fossil Group Inc. (FOSL) concluded trading on 08/26/20 at a closing price of $5.57, with 1.13 million shares of worth about $6.31 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 4.11% during that period and on Wednesday the price saw a loss of about -5.27%. Currently the company’s common shares owned by public are about 51.19M shares, out of which, 46.32M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the FOSL stock and their offered price forecasts bring an average price target of $2.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $2.50 and could fall to a lowest price of $2.50. Analysts also issued an outlook of 4.00 for the Fossil Group Inc. stock for next 12 months. The stock’s current price level is -122.8% below of average price target set by the analysts, while a dip to estimated low would result in loss of -122.8 for the stock. However, touching the estimated high of $2.50 would mean a loss of -122.8% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 36 times over the past 12 months. They bought 741,787 shares in 28 of the transactions. In 8 selling transactions, insiders dumped 85,395 shares.

Contrarius ICAV – Global Equity F, Fidelity Low Priced Stock Fund, and iShares Core S&P Small Cap ETF are the top 3 mutual funds which are holding stakes in Fossil Group Inc. Contrarius ICAV – Global Equity F is currently holding 4.48 million shares of worth totaling $14.82 million. The company recently came selling 27.0 shares which brought its stake up to 8.73% of the company’s outstanding shares. Fidelity Low Priced Stock Fund sold 4318.0 shares, after which its hold over company’s outstanding shares shrunk to 7.93%, leaving 4.07 million shares with the mutual fund that have a worth of about $13.46 million. iShares Core S&P Small Cap ETF, after buying 2.94 million shares, have now control over 5.73% of the stake in the company. It holds 10500.0 shares of worth $9.73 million.

Fossil Group Inc. (NASDAQ: FOSL) started trading at $5.88, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $5.57, or with a loss of -5.27%. Stock saw a price change of 4.11% in past 5 days and over the past one month there was a price change of 53.87%. Year-to-date (YTD), FOSL shares are showing a performance of -29.31% which decreased to -53.58% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.69 but also hit the highest price of $14.11 during that period. While comparing its average daily trading volume of 2.01 million shares, we see that about 1.13 million changed hands on the day. The stock is currently trading 19.08% above its 20-day simple moving average (SMA20), while that difference is up 25.28% for SMA50 and it goes to 6.03% higher than SMA200.

Fidelity Management & Research Co.. acquired 7.39 million shares of Fossil Group Inc. having value of about $24.45 million. Data submitted at the U.S SEC by Fidelity Management & Research Co.. revealed that the firm now holds 1399.0 shares in the company valued at close to $7792.43, or have control over 0.02% stake in the company. Fossil Group Inc. (NASDAQ: FOSL) currently have 51.19M outstanding shares and institutions hold larger chunk of about 99.60% of that. Holding of mutual funds in the company is about 26.06% while other institutional holders and individual stake holders have control over 74.25% and 12.75% of the stake respectively.

The stock has a current market capitalization of $299.05M and its 3Y-monthly beta is at 1.04. It has posted earnings per share of -$2.78 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.68. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FOSL, volatility over the week remained 7.80% while standing at 9.18% over the month.

Analysts are in expectations that Fossil Group Inc. (FOSL) stock would likely to be making an EPS of -$0.72 in the current quarter, while forecast for next quarter ESPS is $0.18 and it is -$1.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.72 which is -$0.72 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.15 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -312.70% while it is estimated to increase by 49.80% in next year. EPS is likely to grow at an annualized rate of 14.90% for next 5-years, compared to annual growth of -16.50% made by the stock over the past 5-years.

Analysts at 1 brokerage firms have issued recommendations for the Fossil Group Inc. (FOSL)’s stock and average of those rates the stock at a “Moderate Sell” and assign it a score of 4.00. Out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Telsey Advisory Group on February 27, 2020 offering a Market perform rating for the stock and assigned a target price range of between $7 and $5 to it. Coverage by KeyBanc Capital Markets stated Fossil Group Inc. (FOSL) stock as a Sector weight in their note to investors on November 07, 2019, suggesting a price target of for the stock. On August 05, 2019, Telsey Advisory Group Reiterated their recommendations, while on February 14, 2019, Telsey Advisory Group Reiterated their ratings for the stock with a price target of $15. Stock get a Market perform rating from Telsey Advisory Group on February 08, 2019.


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