Grandeur Peak Global Advisors LLC Lowers Position in Crocs, Inc. (NASDAQ:CROX)

Grandeur Peak Global Advisors LLC cut its position in shares of Crocs, Inc. (NASDAQ:CROX) by 27.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,690 shares of the textile maker’s stock after selling 1,040 shares during the quarter. Grandeur Peak Global Advisors LLC’s holdings in Crocs were worth $387,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CROX. WIT Partners Advisory Pte. Ltd. bought a new position in Crocs during the 4th quarter worth approximately $266,431,000. Coatue Management LLC lifted its stake in shares of Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the period. Norges Bank purchased a new position in shares of Crocs in the 4th quarter valued at approximately $72,211,000. Patient Capital Management LLC purchased a new position in shares of Crocs in the 4th quarter valued at approximately $39,420,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock valued at $71,952,000 after purchasing an additional 245,240 shares during the period. 93.44% of the stock is currently owned by institutional investors.

Crocs Stock Performance

NASDAQ:CROX traded up $3.17 during mid-day trading on Wednesday, hitting $135.78. 1,374,940 shares of the company traded hands, compared to its average volume of 1,348,569. The stock’s fifty day moving average price is $145.90 and its 200-day moving average price is $131.08. Crocs, Inc. has a one year low of $74.00 and a one year high of $165.32. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.47 and a beta of 2.00.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The business had revenue of $938.60 million for the quarter, compared to the consensus estimate of $884.29 million. During the same period in the previous year, the business earned $2.61 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that Crocs, Inc. will post 12.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares in the company, valued at $12,771,642.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Anne Mehlman sold 7,150 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $159.01, for a total value of $1,136,921.50. Following the sale, the executive vice president now directly owns 143,075 shares in the company, valued at $22,750,355.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Rees sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the completion of the sale, the chief executive officer now owns 79,748 shares in the company, valued at $12,771,642.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,178 shares of company stock worth $4,597,445. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CROX has been the subject of a number of recent research reports. UBS Group lowered their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Bank of America lifted their price objective on Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Williams Trading reissued a “hold” rating and issued a $125.00 target price (down previously from $135.00) on shares of Crocs in a report on Tuesday, April 16th. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. Finally, Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Crocs in a report on Monday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.82.

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.