Patient Capital Management LLC Buys 64,258 Shares of Crocs, Inc. (NASDAQ:CROX)

Patient Capital Management LLC boosted its position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 445,227 shares of the textile maker's stock after acquiring an additional 64,258 shares during the quarter. Crocs accounts for approximately 2.3% of Patient Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Patient Capital Management LLC owned 0.76% of Crocs worth $48,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CROX. Franklin Resources Inc. lifted its stake in Crocs by 31.1% during the third quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker's stock worth $6,497,000 after purchasing an additional 11,056 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in Crocs by 18.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 8,380 shares of the textile maker's stock worth $918,000 after purchasing an additional 1,321 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Crocs during the fourth quarter worth approximately $359,000. Merit Financial Group LLC lifted its stake in Crocs by 7.1% during the fourth quarter. Merit Financial Group LLC now owns 38,037 shares of the textile maker's stock worth $4,166,000 after purchasing an additional 2,517 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Crocs by 46.6% during the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker's stock worth $49,000 after buying an additional 142 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Price Performance

Shares of Crocs stock traded up $0.28 during trading on Friday, hitting $117.55. The stock had a trading volume of 923,854 shares, compared to its average volume of 1,494,763. The business has a fifty day moving average of $101.60 and a two-hundred day moving average of $103.83. The firm has a market cap of $6.59 billion, a P/E ratio of 7.35, a PEG ratio of 1.80 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. Crocs, Inc. has a fifty-two week low of $86.11 and a fifty-two week high of $165.32.

Crocs (NASDAQ:CROX - Get Free Report) last announced its earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.49. The company had revenue of $937.33 million for the quarter, compared to analyst estimates of $907.07 million. Crocs had a return on equity of 46.27% and a net margin of 23.16%. Crocs's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.02 earnings per share. On average, sell-side analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CROX has been the topic of a number of recent research reports. Loop Capital boosted their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Needham & Company LLC boosted their target price on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays dropped their target price on Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Bank of America boosted their target price on Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, UBS Group upped their price objective on Crocs from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $139.79.

Insider Buying and Selling at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the transaction, the director now owns 27,505 shares of the company's stock, valued at approximately $3,187,554.45. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares of the company's stock, valued at $9,529,870.87. This represents a 14.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,703 shares of company stock worth $2,464,444 over the last 90 days. 2.72% of the stock is currently owned by corporate insiders.

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.