Entropy Technologies LP Invests $905,000 in Crocs, Inc. (NASDAQ:CROX)

Key Points

• Entropy Technologies LP has acquired a new position in Crocs, Inc., purchasing 8,518 shares valued at approximately $905,000.
• Crocs' latest earnings report showed earnings per share of $4.23, surpassing analysts' estimates, with revenue of $1.15 billion, reflecting a 3.4% year-over-year increase.
• Several analysts have recently adjusted their price targets for Crocs, with KeyCorp lowering its target from $120.00 to $95.00 while maintaining an "overweight" rating.

Entropy Technologies LP acquired a new stake in Crocs, Inc. (NASDAQ:CROX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,518 shares of the textile maker's stock, valued at approximately $905,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LSV Asset Management raised its holdings in shares of Crocs by 180.9% in the 1st quarter. LSV Asset Management now owns 880,260 shares of the textile maker's stock worth $93,484,000 after acquiring an additional 566,847 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Crocs by 30,778.0% in the fourth quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker's stock worth $50,055,000 after buying an additional 455,515 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Crocs by 49.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker's stock valued at $143,309,000 after buying an additional 429,994 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Crocs by 167.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 490,544 shares of the textile maker's stock valued at $53,730,000 after acquiring an additional 307,185 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Crocs by 215.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 372,450 shares of the textile maker's stock worth $40,794,000 after acquiring an additional 254,212 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Crocs Price Performance

CROX stock traded up $1.01 during trading on Friday, hitting $85.04. The company had a trading volume of 1,696,875 shares, compared to its average volume of 1,794,381. The company has a fifty day moving average price of $100.20 and a two-hundred day moving average price of $101.59. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.64 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.92 and a beta of 1.41. Crocs, Inc. has a fifty-two week low of $73.76 and a fifty-two week high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping analysts' consensus estimates of $4.01 by $0.22. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 earnings per share. Equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In other news, Director John B. Replogle acquired 3,261 shares of Crocs stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $76.69 per share, with a total value of $250,086.09. Following the completion of the transaction, the director directly owned 15,417 shares of the company's stock, valued at approximately $1,182,329.73. This represents a 26.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan L. Healy purchased 2,000 shares of Crocs stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $76.56 per share, with a total value of $153,120.00. Following the completion of the transaction, the executive vice president directly owned 50,078 shares of the company's stock, valued at approximately $3,833,971.68. The trade was a 4.16% increase in their position. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a report on Tuesday, July 22nd. UBS Group decreased their price target on shares of Crocs from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday. Stifel Nicolaus reissued a "hold" rating and set a $85.00 price objective (down previously from $127.00) on shares of Crocs in a report on Friday, August 8th. Monness Crespi & Hardt cut their target price on shares of Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Needham & Company LLC decreased their target price on shares of Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Crocs has a consensus rating of "Moderate Buy" and a consensus price target of $108.92.

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.