Asio Capital LLC Raises Stake in Crocs, Inc. (NASDAQ:CROX)

Asio Capital LLC increased its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 15.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 35,698 shares of the textile maker's stock after purchasing an additional 4,703 shares during the period. Asio Capital LLC owned approximately 0.06% of Crocs worth $3,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in Crocs by 62.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 42,585 shares of the textile maker's stock worth $4,523,000 after acquiring an additional 16,363 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of Crocs by 5.8% in the first quarter. Foster Victor Wealth Advisors LLC now owns 96,972 shares of the textile maker's stock worth $10,298,000 after acquiring an additional 5,325 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Crocs during the first quarter worth $53,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Crocs in the first quarter valued at $58,000. Finally, Assenagon Asset Management S.A. purchased a new position in Crocs in the first quarter valued at $367,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 27,505 shares in the company, valued at $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Crocs from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Needham & Company LLC boosted their price objective on Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays reduced their target price on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus decreased their price target on shares of Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group boosted their price target on shares of Crocs from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $139.79.

Crocs Stock Down 0.9%

Shares of NASDAQ CROX traded down $0.87 during mid-day trading on Wednesday, reaching $100.13. The company had a trading volume of 1,140,508 shares, compared to its average volume of 1,522,199. Crocs, Inc. has a 52-week low of $86.11 and a 52-week high of $165.32. The stock has a market cap of $5.61 billion, a P/E ratio of 6.14, a PEG ratio of 2.57 and a beta of 1.41. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $102.37 and a two-hundred day simple moving average of $104.12.

Crocs (NASDAQ:CROX - Get Free Report) last posted its earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.49. The business had revenue of $937.33 million for the quarter, compared to analysts' expectations of $907.07 million. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The business's revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.02 earnings per share. Sell-side analysts predict that Crocs, Inc. will post 13.2 earnings per share for the current year.

Crocs 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.