Crocs Sees Unusually High Options Volume (NASDAQ:CROX)
Crocs, Inc. (NASDAQ:CROX) was the recipient of some unusual options trading on Friday. Investors bought 3,426 call options on the company. This is an increase of 200% compared to the average volume of 1,142 call options.
In other news, EVP Michelle Poole sold 30,000 shares of Crocs stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $29.33, for a total transaction of $879,900.00. Following the sale, the executive vice president now directly owns 135,330 shares of the company’s stock, valued at $3,969,228.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.42% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 1,000 shares during the period. Raymond James & Associates acquired a new stake in Crocs during the 4th quarter valued at approximately $218,000. Stifel Financial Corp lifted its stake in Crocs by 97.0% during the 4th quarter. Stifel Financial Corp now owns 14,384 shares of the textile maker’s stock valued at $606,000 after acquiring an additional 7,084 shares during the period. UBS Group AG lifted its stake in Crocs by 66.2% during the 4th quarter. UBS Group AG now owns 93,924 shares of the textile maker’s stock valued at $3,935,000 after acquiring an additional 37,412 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Crocs by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 755,077 shares of the textile maker’s stock worth $31,631,000 after acquiring an additional 58,319 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.87. The firm had revenue of $331.55 million for the quarter, compared to analysts’ expectations of $241.20 million. Crocs had a return on equity of 106.21% and a net margin of 10.37%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. As a group, equities analysts expect that Crocs will post 0.85 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the company. Loop Capital raised Crocs from a “hold” rating to a “buy” rating and boosted their price target for the company from $22.00 to $40.00 in a research note on Tuesday, June 30th. BidaskClub upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Friday, June 19th. B. Riley assumed coverage on Crocs in a research note on Thursday, May 21st. They issued a “hold” rating and a $23.00 target price for the company. Pivotal Research increased their target price on shares of Crocs from $29.00 to $41.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Susquehanna Bancshares reiterated a “buy” rating and issued a $53.00 target price on shares of Crocs in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.92.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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