Short Interest in Crocs, Inc. (NASDAQ:CROX) Decreases By 7.6%

Crocs, Inc. (NASDAQ:CROX) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,080,000 shares, a drop of 7.6% from the March 15th total of 5,500,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 8.7% of the shares of the company are sold short.

Insider Buying and Selling at Crocs

In other news, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at approximately $25,981,834.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crocs news, Director John B. Replogle purchased 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $126.75 per share, with a total value of $249,951.00. Following the acquisition, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,867 shares of company stock worth $4,786,276. 2.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crocs

A number of hedge funds and other institutional investors have recently made changes to their positions in CROX. JPMorgan Chase & Co. grew its position in Crocs by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 160,588 shares of the textile maker’s stock valued at $12,269,000 after acquiring an additional 972 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Crocs by 91.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,493 shares of the textile maker’s stock valued at $1,948,000 after acquiring an additional 12,173 shares during the period. HighTower Advisors LLC grew its position in Crocs by 156.1% during the first quarter. HighTower Advisors LLC now owns 21,233 shares of the textile maker’s stock valued at $1,623,000 after acquiring an additional 12,941 shares during the period. Private Advisor Group LLC grew its position in Crocs by 9.7% during the first quarter. Private Advisor Group LLC now owns 7,180 shares of the textile maker’s stock valued at $549,000 after acquiring an additional 634 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Crocs by 2.7% during the first quarter. Rhumbline Advisers now owns 161,078 shares of the textile maker’s stock worth $12,306,000 after purchasing an additional 4,287 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CROX. Williams Trading reaffirmed a “hold” rating and set a $125.00 price objective (down from $135.00) on shares of Crocs in a report on Tuesday. KeyCorp lifted their price objective on Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. Bank of America lifted their price objective on Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Crocs currently has an average rating of “Moderate Buy” and a consensus target price of $147.09.

Crocs Trading Down 2.2 %

Shares of NASDAQ:CROX traded down $2.68 during midday trading on Tuesday, reaching $120.68. The company’s stock had a trading volume of 1,625,528 shares, compared to its average volume of 1,454,587. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.58 and a beta of 2.01. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Crocs has a 1 year low of $74.00 and a 1 year high of $151.32. The business has a 50 day moving average price of $126.12 and a 200 day moving average price of $105.64.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. The business had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. Research analysts forecast that Crocs will post 12.46 EPS for the current year.

Crocs Company Profile

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.