Fossil Group Target of Unusually High Options Trading (FOSL)

Fossil Group, Inc. (NASDAQ:FOSL) saw some unusual options trading activity on Tuesday. Investors purchased 9,795 put options on the company. This is an increase of approximately 510% compared to the typical volume of 1,605 put options.

FOSL has been the topic of a number of recent analyst reports. Cowen and Company decreased their target price on shares of Fossil Group from $15.00 to $12.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 10th. Piper Jaffray Companies reiterated a “hold” rating and set a $15.00 price objective on shares of Fossil Group in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Fossil Group from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. ValuEngine cut shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.75.

Fossil Group (FOSL) traded up 7.4884% during mid-day trading on Tuesday, reaching $12.0387. 3,897,397 shares of the company were exchanged. Fossil Group has a 1-year low of $8.98 and a 1-year high of $36.87. The stock has a market capitalization of $583.44 million, a price-to-earnings ratio of 23.6053 and a beta of 0.73. The stock’s 50-day moving average price is $10.19 and its 200-day moving average price is $15.76.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.14. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The business had revenue of $582 million during the quarter, compared to analysts’ expectations of $590.51 million. During the same period in the prior year, the company posted $0.12 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Fossil Group will post $0.87 EPS for the current fiscal year.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the transaction, the chairman now directly owns 4,183,047 shares in the company, valued at approximately $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold a total of 2,220,281 shares of company stock valued at $23,790,210 in the last three months. 12.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Fossil Group during the fourth quarter worth approximately $217,000. Acadian Asset Management LLC bought a new stake in shares of Fossil Group during the second quarter worth $113,000. Koch Industries Inc. bought a new stake in shares of Fossil Group during the first quarter worth $196,000. Wayne Hummer Investments L.L.C. bought a new stake in shares of Fossil Group during the first quarter worth $205,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Fossil Group during the second quarter worth $122,000. 97.21% of the stock is currently owned by institutional investors.

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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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