Published on 2 May 2024 on Insider Monkey via Yahoo Finance
Fossil Group (FOSL) Fell Due to Near-Term Revenue Headwinds
Miller Value Partners, an investment management company, released its “Deep Value Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Equity markets continued to perform strongly in early 2024, following a successful 2023. The S&P 500 rose by over 10% in Q1. In the first quarter, Strategy returned 1.78% (net of fees) trailing the S&P 1500 Value Index’s 7.59% return and ahead of the S&P 600 Value Index, which was slightly positive. During the first two months, lower valuation and smaller cap stocks lagged the overall equity market. However, in March they took the lead. The Deep Value Select strategy had a weak performance in January and February, but it outperformed the Value and Small Cap indexes in March. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Miller Value Deep Value Strategy featured stocks like Fossil Group, Inc. (NASDAQ:FOSL) in the first quarter 2024 investor letter. Headquartered in Richardson, Texas, Fossil Group, Inc. (NASDAQ:FOSL) designs, develops, markets, and distributes consumer fashion accessories. On May 1, 2024, Fossil Group, Inc. (NASDAQ:FOSL) stock closed at $0.8019 per share. One-month return of Fossil Group, Inc. (NASDAQ:FOSL) was -13.83%, and its shares lost 73.70% of their value over the last 52 weeks. Fossil Group, Inc. (NASDAQ:FOSL) has a market capitalization of $42.518 million.