Crocs, Inc. (CROX) Short Interest Down 44.8% in October
Crocs, Inc. (NASDAQ:CROX) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,686,722 shares, a decrease of 44.8% from the October 13th total of 6,678,561 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily volume of 1,193,214 shares, the short-interest ratio is presently 3.1 days.
A number of large investors have recently modified their holdings of CROX. Dimensional Fund Advisors LP lifted its stake in Crocs by 36.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,532,024 shares of the textile maker’s stock valued at $27,232,000 after purchasing an additional 937,111 shares during the last quarter. Vanguard Group Inc. lifted its stake in Crocs by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,846,368 shares of the textile maker’s stock valued at $52,787,000 after purchasing an additional 408,899 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Crocs by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,515,710 shares of the textile maker’s stock valued at $19,396,000 after purchasing an additional 388,074 shares during the last quarter. Morgan Stanley lifted its stake in Crocs by 37.6% in the 1st quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after purchasing an additional 362,712 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in Crocs in the 3rd quarter valued at approximately $1,643,000. 88.73% of the stock is owned by institutional investors and hedge funds.
Shares of Crocs (CROX) opened at $10.56 on Friday. Crocs has a 52-week low of $5.93 and a 52-week high of $10.80.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The business had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. Crocs had a negative net margin of 0.60% and a negative return on equity of 0.42%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. research analysts predict that Crocs will post -0.07 earnings per share for the current year.
A number of research analysts have issued reports on CROX shares. ValuEngine upgraded shares of Crocs from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Pivotal Research started coverage on shares of Crocs in a research report on Thursday, October 5th. They set a “hold” rating and a $9.50 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $8.00 target price (up previously from $7.00) on shares of Crocs in a research report on Saturday, July 22nd. Zacks Investment Research lowered shares of Crocs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.75.
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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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