Irving Magee Investment Management buys $4,192,844 stake in Fossil Group Inc (FOSL)

Fossil Group Inc (FOSL) : Irving Magee Investment Management scooped up 61,700 additional shares in Fossil Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 132,601 shares of Fossil Group Inc which is valued at $4,192,844.Fossil Group Inc makes up approximately 1.95% of Irving Magee Investment Management’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association added FOSL to its portfolio by purchasing 18,760 company shares during the most recent quarter which is valued at $593,191.Weitz Investment Management reduced its stake in FOSL by selling 143,127 shares or 13.83% in the most recent quarter. The Hedge Fund company now holds 891,784 shares of FOSL which is valued at $28,198,210. Fossil Group Inc makes up approx 1.01% of Weitz Investment Management’s portfolio. Credit Agricole S A added FOSL to its portfolio by purchasing 7,914 company shares during the most recent quarter which is valued at $250,241. Paradigm Capital Management Incny sold out all of its stake in FOSL during the most recent quarter. The investment firm sold 5,000 shares of FOSL which is valued $153,700.Louisiana State Employees Retirement System reduced its stake in FOSL by selling 500 shares or 4.35% in the most recent quarter. The Hedge Fund company now holds 11,000 shares of FOSL which is valued at $343,530. Fossil Group Inc makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio.

Fossil Group Inc opened for trading at $31.47 and hit $32.11 on the upside on Tuesday, eventually ending the session at $31.73, with a gain of 1.02% or 0.32 points. The heightened volatility saw the trading volume jump to 7,22,228 shares. Company has a market cap of $1,527 M.

On the company’s financial health, Fossil Group Inc reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.08. The company had revenue of $685.00 million for the quarter, compared to analysts expectations of $671.67 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Fossil Group Inc. Company shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .

Fossil Group Inc. is a global designer marketer and distributor company that specializes in consumer fashion accessories. The Company’s offerings include a line of men’s and women’s fashion watches and jewelry handbags small leather goods belts sunglasses soft accessories and select apparel. The Company operates in four different segments: the North America Wholesale segment the Europe Wholesale segment Asia Pacific Wholesale segment and the Direct to Consumer segment. Its products are distributed globally through various distribution channels including wholesale retail stores and commercial Websites. The Company sells its products through a diversified distribution network that includes department stores specialty retail locations specialty watch and jewelry stores Company-owned retail and factory outlet stores mass market stores and through its FOSSIL Website.

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