Crocs, Inc. (CROX) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 8.4% during the first quarter, Holdings Channel reports. The firm owned 583,731 shares of the textile maker’s stock after buying an additional 45,167 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Crocs were worth $4,127,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. KCG Holdings Inc. acquired a new stake in Crocs during the first quarter valued at approximately $224,000. Renaissance Technologies LLC boosted its stake in Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock valued at $15,042,000 after buying an additional 737,636 shares during the period. Morgan Stanley boosted its stake in Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after buying an additional 362,712 shares during the period. GMT Capital Corp acquired a new stake in Crocs during the first quarter valued at approximately $1,510,000. Finally, Dimensional Fund Advisors LP boosted its stake in Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock valued at $18,346,000 after buying an additional 220,190 shares during the period. Institutional investors own 90.27% of the company’s stock.
Shares of Crocs, Inc. (NASDAQ CROX) traded down 2.926% during mid-day trading on Tuesday, hitting $9.125. The stock had a trading volume of 991,253 shares. The company has a 50-day moving average of $7.88 and a 200 day moving average of $7.03. The firm’s market cap is $654.82 million. Crocs, Inc. has a one year low of $5.93 and a one year high of $9.54.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. The company had revenue of $313.20 million during the quarter, compared to the consensus estimate of $311.33 million. During the same period last year, the business earned $0.16 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts forecast that Crocs, Inc. will post ($0.03) earnings per share for the current year.
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Several analysts have commented on the company. Zacks Investment Research upgraded Crocs from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday. BidaskClub upgraded Crocs from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine upgraded Crocs from a “sell” rating to a “hold” rating in a report on Friday. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $8.00 target price (up previously from $7.00) on shares of Crocs in a report on Thursday, August 10th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $9.00 target price on shares of Crocs in a report on Wednesday, August 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $8.60.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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