The Manufacturers Life Insurance Company Reduces Stake in Fossil Group, Inc. (NASDAQ:FOSL)

The Manufacturers Life Insurance Company decreased its stake in shares of Fossil Group, Inc. (NASDAQ:FOSL) by 5.4% during the first quarter, HoldingsChannel.com reports. The firm owned 26,953 shares of the accessories brand company’s stock after selling 1,544 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fossil Group were worth $334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in Fossil Group by 5,392.1% during the 1st quarter. Meeder Asset Management Inc. now owns 2,087 shares of the accessories brand company’s stock worth $25,000 after purchasing an additional 2,049 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Fossil Group during the 1st quarter worth about $26,000. ProShare Advisors LLC purchased a new stake in Fossil Group during the 4th quarter worth about $98,000. Engineers Gate Manager LP purchased a new stake in Fossil Group during the 4th quarter worth about $110,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Fossil Group by 3.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,831 shares of the accessories brand company’s stock worth $163,000 after purchasing an additional 610 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FOSL opened at $14.74 on Friday. The firm has a 50-day simple moving average of $13.05. Fossil Group, Inc. has a twelve month low of $3.19 and a twelve month high of $28.60. The stock has a market cap of $767.69 million, a PE ratio of -21.68 and a beta of 1.89. The company has a current ratio of 1.87, a quick ratio of 1.23 and a debt-to-equity ratio of 0.38.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Wednesday, March 10th. The accessories brand company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Fossil Group had a negative net margin of 2.19% and a negative return on equity of 2.51%. The business had revenue of $528.10 million during the quarter.

Separately, TheStreet cut Fossil Group from a “c-” rating to a “d+” rating in a report on Tuesday, March 23rd.

In other news, EVP Gregory A. Mckelvey sold 25,000 shares of the stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $12.04, for a total transaction of $301,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steve Andrew Evans sold 50,602 shares of the stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $14.03, for a total value of $709,946.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,501 shares of company stock worth $3,051,032. Insiders own 9.40% of the company’s stock.

Fossil Group 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.

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Institutional Ownership by Quarter for Fossil Group (NASDAQ:FOSL)

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