Hussman Strategic Advisors Inc. Purchases Shares of 105,000 Cricut, Inc. (NASDAQ:CRCT)

Hussman Strategic Advisors Inc. bought a new position in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 105,000 shares of the company's stock, valued at approximately $541,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in shares of Cricut during the 1st quarter valued at about $59,000. Caisse Des Depots ET Consignations acquired a new stake in Cricut in the 4th quarter valued at approximately $72,000. ProShare Advisors LLC acquired a new stake in Cricut in the 4th quarter valued at approximately $75,000. Orion Portfolio Solutions LLC acquired a new stake in Cricut in the 4th quarter valued at approximately $84,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Cricut during the 4th quarter worth approximately $89,000. Institutional investors own 19.60% of the company's stock.

Cricut Price Performance

Shares of CRCT stock traded up $0.16 on Friday, hitting $5.44. 643,646 shares of the company's stock were exchanged, compared to its average volume of 439,378. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The company has a 50 day moving average of $6.25 and a 200 day moving average of $5.67. The stock has a market cap of $1.15 billion, a P/E ratio of 17.55 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Cricut had a net margin of 9.48% and a return on equity of 14.27%. The company had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Sell-side analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 3.3%. Cricut's payout ratio is currently 64.52%.

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $6.25, for a total value of $375,000.00. Following the transaction, the chief executive officer owned 2,871,931 shares in the company, valued at $17,949,568.75. This trade represents a 2.05% 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 hyperlink. Insiders sold a total of 593,489 shares of company stock valued at $3,701,725 in the last 90 days. 18.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Citigroup reissued a "sell" rating and set a $4.00 target price (down 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.