Fossil Group (NASDAQ:FOSL) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Fossil Group (NASDAQ:FOSL) from a buy rating to a hold rating in a report published on Friday morning.

Fossil Group Stock Performance

Shares of FOSL opened at $1.38 on Friday. The company has a market cap of $73.41 million, a PE ratio of -0.59 and a beta of 2.12. The company has a current ratio of 1.81, a quick ratio of 1.10 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $1.68 and a 200-day moving average price of $1.46. Fossil Group has a 12-month low of $0.75 and a 12-month high of $2.61.

Hedge Funds Weigh In On Fossil Group

Several hedge funds have recently made changes to their positions in FOSL. Squarepoint Ops LLC bought a new stake in shares of Fossil Group during the fourth quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new stake in Fossil Group in the fourth quarter worth $35,000. American Century Companies Inc. bought a new stake in Fossil Group in the fourth quarter worth $47,000. Walleye Capital LLC bought a new stake in Fossil Group in the fourth quarter worth $54,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Fossil Group in the fourth quarter worth $63,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

About Fossil Group

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.