Crocs, Inc. (NASDAQ:CROX) Sees Large Decline in Short Interest

Crocs, Inc. (NASDAQ:CROX) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 4,230,000 shares, a drop of 11.5% from the September 15th total of 4,780,000 shares. Currently, 7.4% of the company’s shares are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 3.5 days.

Analysts Set New Price Targets

CROX has been the subject of a number of analyst reports. UBS Group lowered their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. StockNews.com raised shares of Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Guggenheim assumed coverage on shares of Crocs in a research report on Wednesday, October 9th. They set a “buy” rating and a $182.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of Crocs in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Crocs presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Insiders Place Their Bets

In other news, Director John B. Replogle bought 1,996 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the acquisition, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John B. Replogle purchased 1,996 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, with a total value of $247,424.16. Following the completion of the purchase, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of hedge funds have recently bought and sold shares of the business. Rise Advisors LLC purchased a new position in shares of Crocs in the 1st quarter worth $25,000. GHP Investment Advisors Inc. increased its position in shares of Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Crocs by 64.9% in the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares during the period. Blue Trust Inc. boosted its holdings in shares of Crocs by 19.3% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $144,000 after buying an additional 162 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Crocs by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 0.1 %

Crocs stock traded down $0.19 during mid-day trading on Thursday, reaching $137.35. The stock had a trading volume of 68,418 shares, compared to its average volume of 1,276,354. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. Crocs has a one year low of $74.00 and a one year high of $165.32. The company has a 50-day moving average price of $138.03 and a two-hundred day moving average price of $138.72.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $3.59 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Crocs will post 12.88 EPS for the current fiscal year.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.