CCM Investment Group LLC Invests $606,000 in Crocs, Inc. (NASDAQ:CROX)

Key Points

• CCM Investment Group LLC has invested approximately $606,000 in Crocs, Inc. by acquiring 5,718 shares during the first quarter of the year.
• Crocs reported $4.23 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $4.01, with a revenue of $1.15 billion.
• Analysts have recently adjusted their price targets for Crocs, with Barclays lowering it to $81.00 while maintaining an "equal weight" rating on the stock.

CCM Investment Group LLC purchased a new stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,718 shares of the textile maker's stock, valued at approximately $606,000.

Other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in shares of Crocs during the first quarter valued at about $32,000. Larson Financial Group LLC raised its position in shares of Crocs by 541.8% during the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock valued at $37,000 after buying an additional 298 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Crocs during the first quarter valued at about $40,000. Salem Investment Counselors Inc. acquired a new position in shares of Crocs during the first quarter valued at about $53,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Crocs during the fourth quarter valued at about $54,000. 93.44% of the stock is currently owned by institutional investors.

Insider Transactions at Crocs

In other Crocs news, Director John B. Replogle acquired 3,261 shares of Crocs stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $76.69 per share, with a total value of $250,086.09. Following the completion of the purchase, the director owned 15,417 shares in the company, valued at $1,182,329.73. The trade was a 26.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CROX shares. KeyCorp cut their price objective on shares of Crocs from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Stifel Nicolaus reaffirmed a "hold" rating and set a $85.00 price objective (down previously from $127.00) on shares of Crocs in a research report on Friday, August 8th. Barclays reaffirmed an "equal weight" rating and set a $81.00 price objective (down previously from $119.00) on shares of Crocs in a research report on Friday, August 8th. UBS Group dropped their price target on shares of Crocs from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Needham & Company LLC dropped their price target on shares of Crocs from $129.00 to $89.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.92.

Crocs Trading Up 7.1%

CROX stock traded up $5.50 during trading on Wednesday, hitting $83.40. The company had a trading volume of 3,777,720 shares, compared to its average volume of 2,496,708. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $100.52 and a 200-day moving average price of $101.72. Crocs, Inc. has a 12 month low of $73.76 and a 12 month high of $151.13. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.79 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.22. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the company posted $4.01 EPS. Crocs's revenue was up 3.4% on a year-over-year basis. As a group, 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.