Fossil Group, Inc. (NASDAQ:FOSL) Sees Large Drop in Short Interest

Fossil Group, Inc. (NASDAQ:FOSL) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,820,000 shares, a drop of 7.1% from the August 15th total of 1,960,000 shares. Based on an average daily volume of 505,200 shares, the short-interest ratio is currently 3.6 days. Approximately 3.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fossil Group

Several hedge funds and other institutional investors have recently modified their holdings of FOSL. Vanguard Group Inc. raised its holdings in Fossil Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,672,340 shares of the accessories brand company’s stock valued at $2,726,000 after buying an additional 15,279 shares during the period. Acadian Asset Management LLC increased its position in shares of Fossil Group by 3.3% in the first quarter. Acadian Asset Management LLC now owns 581,831 shares of the accessories brand company’s stock worth $592,000 after acquiring an additional 18,764 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Fossil Group by 97.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 99,488 shares of the accessories brand company’s stock valued at $102,000 after acquiring an additional 49,100 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Fossil Group by 91.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,115 shares of the accessories brand company’s stock worth $29,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fossil Group during the 2nd quarter worth approximately $131,000. 61.14% of the stock is owned by institutional investors and hedge funds.

Fossil Group Price Performance

Shares of FOSL stock traded up $0.06 during trading hours on Wednesday, hitting $1.10. The company’s stock had a trading volume of 212,426 shares, compared to its average volume of 596,529. Fossil Group has a twelve month low of $0.75 and a twelve month high of $2.20. The stock has a market cap of $58.23 million, a price-to-earnings ratio of -0.39 and a beta of 2.19. The business has a fifty day moving average of $1.17 and a 200-day moving average of $1.13. The company has a current ratio of 1.94, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Thursday, August 8th. The accessories brand company reported ($0.47) earnings per share for the quarter. The business had revenue of $260.00 million during the quarter. Fossil Group had a negative net margin of 11.90% and a negative return on equity of 45.04%.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.