Jacobs Levy Equity Management Inc. Acquires Shares of 76,464 Cricut, Inc. (NASDAQ:CRCT)

Jacobs Levy Equity Management Inc. purchased a new position in Cricut, Inc. (NASDAQ:CRCT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 76,464 shares of the company's stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in Cricut by 4.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company's stock worth $280,000 after purchasing an additional 2,272 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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. Dynamic Technology Lab Private Ltd raised its holdings in shares of Cricut by 11.0% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock worth $193,000 after acquiring an additional 3,365 shares in the last quarter. Algert Global LLC raised its holdings in shares of Cricut by 4.5% during the 4th quarter. Algert Global LLC now owns 97,323 shares of the company's stock worth $555,000 after acquiring an additional 4,213 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Cricut by 26.3% during the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company's stock worth $123,000 after acquiring an additional 4,484 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cricut Trading Down 2.6%

NASDAQ:CRCT traded down $0.16 during midday trading on Friday, hitting $5.95. 380,294 shares of the company traded hands, compared to its average volume of 448,554. The firm's fifty day moving average is $5.22 and its 200-day moving average is $5.49. Cricut, Inc. has a 12-month low of $3.94 and a 12-month high of $7.17. The firm has a market capitalization of $1.26 billion, a P/E ratio of 21.25 and a beta of 0.01.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, beating 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. On average, research analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

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

Insider Activity at Cricut

In other Cricut news, CEO Arora Ashish sold 23,813 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.40, for a total value of $128,590.20. Following the transaction, the chief executive officer now owns 3,307,822 shares of the company's stock, valued at $17,862,238.80. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 365,009 shares of company stock worth $2,156,294. Company insiders own 18.61% of the company's stock.

About Cricut

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.