Ameriprise Financial Inc. Acquires New Position in Cricut, Inc. (NASDAQ:CRCT)

Ameriprise Financial Inc. acquired a new stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 38,968 shares of the company's stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRCT. Dimensional Fund Advisors LP increased its holdings in Cricut by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 127,114 shares of the company's stock valued at $725,000 after buying an additional 40,174 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Cricut during the 4th quarter worth about $1,029,000. SG Americas Securities LLC increased its holdings in shares of Cricut by 26.3% in the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company's stock valued at $123,000 after acquiring an additional 4,484 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Cricut by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock worth $186,000 after acquiring an additional 2,684 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Cricut by 25.8% during the fourth quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock worth $6,783,000 after purchasing an additional 244,058 shares during the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.

Cricut Price Performance

Shares of CRCT traded up $0.04 during midday trading on Tuesday, reaching $6.41. 276,677 shares of the stock were exchanged, compared to its average volume of 439,260. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.17. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.89 and a beta of 0.12. The business's 50-day moving average price is $5.46 and its 200 day moving average price is $5.56.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The company had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. As a group, equities research analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.10 dividend. The ex-dividend date is Monday, July 7th. This represents a yield of 3.3%. Cricut's dividend payout ratio (DPR) is 64.52%.

Insider Activity at Cricut

In other Cricut news, CEO Arora Ashish sold 35,203 shares of Cricut stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.37, for a total value of $189,040.11. Following the transaction, the chief executive officer now directly owns 3,265,322 shares in the company, valued at approximately $17,534,779.14. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 425,009 shares of company stock worth $2,573,894 in the last 90 days. 18.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRCT has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a research note on Thursday, March 6th. Citigroup restated a "sell" rating and issued a $4.00 target price (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th.

Cricut Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.