Fossil Group Inc (FOSL) Sees Significant Increase in Short Interest

Fossil Group Inc (NASDAQ:FOSL) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 16,080,228 shares, an increase of 8.9% from the January 15th total of 14,772,131 shares. Approximately 36.3% of the shares of the stock are short sold. Based on an average daily volume of 1,436,884 shares, the short-interest ratio is presently 11.2 days.

Several research analysts have recently commented on FOSL shares. BidaskClub upgraded Fossil Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. ValuEngine upgraded Fossil Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, November 13th. TheStreet downgraded Fossil Group from a “c-” rating to a “d+” rating in a report on Monday, December 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Fossil Group in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

NASDAQ:FOSL traded up $0.56 during mid-day trading on Monday, reaching $15.88. 1,589,540 shares of the company’s stock traded hands, compared to its average volume of 1,457,559. Fossil Group has a 12-month low of $7.97 and a 12-month high of $32.17. The company has a market cap of $757.66 million, a PE ratio of 317.65 and a beta of 0.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.10.

In other news, Director James E. Skinner sold 6,000 shares of Fossil Group stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $21.31, for a total value of $127,860.00. Following the transaction, the director now owns 42,943 shares in the company, valued at $915,115.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John A. White sold 16,303 shares of Fossil Group stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $19.10, for a total value of $311,387.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,103 shares of company stock valued at $829,347. Corporate insiders own 8.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new position in Fossil Group during the 4th quarter valued at about $27,000. Kentucky Retirement Systems purchased a new position in Fossil Group during the 3rd quarter valued at about $486,000. Palo Capital Inc. purchased a new position in Fossil Group during the 3rd quarter valued at about $156,000. United Services Automobile Association purchased a new position in shares of Fossil Group during the 2nd quarter worth approximately $220,000. Finally, Virtu Financial LLC purchased a new position in shares of Fossil Group during the 3rd quarter worth approximately $212,000. Institutional investors own 89.08% of the company’s stock.

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Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.

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