Crocs, Inc. (NASDAQ:CROX) Shares Purchased by LSV Asset Management

Key Points

• LSV Asset Management raised its position in Crocs, Inc. by 180.9% during the first quarter, owning approximately 1.57% of the company with a value of about $93 million after acquiring an additional 566,847 shares.
• Several other institutional investors, including Larson Financial Group LLC and IMA Advisory Services Inc., have also significantly increased their holdings in Crocs, resulting in 93.44% of the stock being owned by institutional investors.
• After recent analyst ratings adjustments, Crocs has a consensus rating of "Moderate Buy" with a price target of approximately $128.46, despite recent price target reductions from various firms.

LSV Asset Management boosted its holdings in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 180.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 880,260 shares of the textile maker's stock after buying an additional 566,847 shares during the quarter. LSV Asset Management owned 1.57% of Crocs worth $93,484,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CROX. Larson Financial Group LLC grew its stake in shares of Crocs by 541.8% during the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after purchasing an additional 298 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Crocs during the 1st quarter worth approximately $40,000. Salem Investment Counselors Inc. acquired a new stake in shares of Crocs during the 1st quarter worth approximately $53,000. Ameriflex Group Inc. acquired a new stake in shares of Crocs during the 4th quarter worth approximately $54,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Crocs during the 1st quarter worth approximately $58,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Stock Down 25.0%

Shares of Crocs stock traded down $26.31 on Thursday, reaching $78.83. 4,579,356 shares of the company were exchanged, compared to its average volume of 1,640,496. Crocs, Inc. has a 1-year low of $75.10 and a 1-year high of $151.13. The company has a market cap of $4.42 billion, a P/E ratio of 4.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 0.97. The stock's 50 day moving average price is $102.93 and its 200-day moving average price is $102.59.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, topping analysts' consensus estimates of $4.03 by $0.20. Crocs had a return on equity of 43.07% and a net margin of 23.35%. During the same quarter in the prior year, the firm earned $4.01 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Transactions at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the transaction, the director directly owned 27,505 shares of the company's stock, valued at $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CROX. Stifel Nicolaus dropped their price objective on shares of Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Piper Sandler dropped their price target on shares of Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Bank of America dropped their price target on shares of Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Finally, Needham & Company LLC raised their price objective on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $128.46.

Crocs Company 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.