Investors Buy Large Volume of Call Options on Fossil Group (FOSL)

Investors Buy Large Volume of Call Options on Fossil Group (FOSL)

Fossil Group Inc (NASDAQ:FOSL) was the recipient of unusually large options trading on Tuesday. Traders purchased 4,973 call options on the stock. This is an increase of approximately 1,146% compared to the typical daily volume of 399 call options.

Shares of Fossil Group stock opened at $12.82 on Thursday. The firm has a market cap of $617.16 million, a price-to-earnings ratio of 16.44 and a beta of 0.17. Fossil Group has a 52 week low of $12.24 and a 52 week high of $32.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.08 and a quick ratio of 1.45.

Fossil Group (NASDAQ:FOSL) last issued its earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.26). The business had revenue of $786.90 million for the quarter, compared to the consensus estimate of $805.17 million. Fossil Group had a negative net margin of 0.14% and a positive return on equity of 3.86%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, sell-side analysts forecast that Fossil Group will post 0.64 EPS for the current year.

Several research analysts have issued reports on the company. BidaskClub downgraded Fossil Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective (down previously from $20.00) on shares of Fossil Group in a report on Friday, February 8th. ValuEngine downgraded Fossil Group from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Zacks Investment Research upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Co dropped their target price on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating for the company in a research report on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 50,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gregory A. Mckelvey sold 249,940 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $3,659,121.60. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Fossil Group in the 4th quarter valued at $27,000. Kentucky Retirement Systems bought a new stake in shares of Fossil Group in the 3rd quarter valued at $486,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Fossil Group in the 1st quarter valued at $141,000. Menta Capital LLC bought a new stake in shares of Fossil Group in the 1st quarter valued at $151,000. Finally, United Services Automobile Association increased its position in shares of Fossil Group by 9.3% in the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock valued at $174,000 after buying an additional 943 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

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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