Fossil Group Inc (NASDAQ:FOSL) Short Interest Down 11.5% in October

Fossil Group Inc (NASDAQ:FOSL) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 11,160,000 shares, a decline of 11.5% from the September 30th total of 12,610,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is presently 8.0 days. Approximately 24.5% of the shares of the stock are sold short.

Shares of NASDAQ FOSL traded up $0.07 during mid-day trading on Friday, hitting $7.89. 1,006,100 shares of the company’s stock traded hands, compared to its average volume of 1,540,501. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.06 and a quick ratio of 0.99. The company has a market capitalization of $395.04 million, a P/E ratio of 10.12 and a beta of 0.40. The company’s 50-day moving average is $10.98 and its two-hundred day moving average is $11.36. Fossil Group has a 1 year low of $7.67 and a 1 year high of $22.24.

Several analysts have commented on the stock. BidaskClub cut shares of Fossil Group from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Co decreased their price target on shares of Fossil Group from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. ValuEngine upgraded shares of Fossil Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. TheStreet cut shares of Fossil Group from a “c-” rating to a “d” rating in a research report on Thursday, November 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $12.00 target price (down from $15.00) on shares of Fossil Group in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Fossil Group presently has an average rating of “Hold” and a consensus target price of $10.33.

In related news, EVP Gregory A. Mckelvey purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average price of $9.86 per share, for a total transaction of $986,000.00. Following the purchase, the executive vice president now directly owns 432,093 shares in the company, valued at $4,260,436.98. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darren E. Hart purchased 20,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average price of $10.03 per share, for a total transaction of $200,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 153,600 shares of company stock worth $1,529,992. Corporate insiders own 8.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Services Automobile Association boosted its stake in shares of Fossil Group by 16.3% during the second quarter. United Services Automobile Association now owns 14,589 shares of the accessories brand company’s stock valued at $168,000 after purchasing an additional 2,040 shares in the last quarter. Quantamental Technologies LLC boosted its stake in shares of Fossil Group by 458.7% during the second quarter. Quantamental Technologies LLC now owns 7,828 shares of the accessories brand company’s stock valued at $90,000 after purchasing an additional 6,427 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Fossil Group by 60.8% during the second quarter. BNP Paribas Arbitrage SA now owns 18,954 shares of the accessories brand company’s stock valued at $218,000 after purchasing an additional 7,168 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Fossil Group by 22.2% during the second quarter. Pacer Advisors Inc. now owns 79,497 shares of the accessories brand company’s stock valued at $914,000 after purchasing an additional 14,450 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake 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 purchasing an additional 163,240 shares in the last quarter.

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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