Lazard Asset Management LLC Acquires 68,725 Shares of Cricut, Inc. (NASDAQ:CRCT)

Lazard Asset Management LLC lifted its holdings in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,854 shares of the company's stock after buying an additional 68,725 shares during the period. Lazard Asset Management LLC owned about 0.10% of Cricut worth $1,218,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. bought a new position in Cricut during the 4th quarter valued at about $436,000. Graham Capital Management L.P. grew its holdings in Cricut by 71.2% during the 4th quarter. Graham Capital Management L.P. now owns 65,081 shares of the company's stock valued at $371,000 after purchasing an additional 27,065 shares during the last quarter. Deutsche Bank AG grew its holdings in Cricut by 52.0% during the 4th quarter. Deutsche Bank AG now owns 54,027 shares of the company's stock valued at $308,000 after purchasing an additional 18,488 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Cricut by 23.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 396,118 shares of the company's stock valued at $2,258,000 after purchasing an additional 75,663 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Cricut during the 4th quarter valued at about $589,000. 19.60% of the stock is currently owned by institutional investors.

Cricut Price Performance

CRCT stock remained flat at $6.11 during mid-day trading on Thursday. 361,835 shares of the company's stock were exchanged, compared to its average volume of 449,890. The stock has a market cap of $1.29 billion, a P/E ratio of 21.82 and a beta of 0.01. The business has a 50 day moving average of $5.20 and a 200 day moving average of $5.50. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.17.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $162.63 million for the quarter, compared to the consensus estimate of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Equities analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

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

Insider Activity

In other news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $5.59, for a total transaction of $335,400.00. Following the transaction, the chief executive officer now directly owns 3,391,635 shares in the company, valued at approximately $18,959,239.65. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 305,009 shares of company stock worth $1,785,494. Corporate insiders own 18.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CRCT shares. Citigroup restated a "sell" rating and issued a $4.00 target price (down from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley dropped their target price on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a research note on Thursday, March 6th.

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.