Pacer Advisors Inc. Lowers Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Crocs, Inc. by 65.6% during the first quarter, now holding approximately 700,956 shares worth $74.4 million.
• Institutional investors own a substantial 93.44% of Crocs' stock, with several firms increasing their positions over the past quarter.
• Crocs recently reported earnings per share of $3.00, surpassing analysts' expectations, and had a revenue of $937.33 million for the quarter.

Pacer Advisors Inc. decreased its holdings in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 65.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700,956 shares of the textile maker's stock after selling 1,336,165 shares during the quarter. Pacer Advisors Inc. owned about 1.25% of Crocs worth $74,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in Crocs by 5.6% during the first quarter. Assetmark Inc. now owns 5,925 shares of the textile maker's stock worth $629,000 after acquiring an additional 314 shares during the last quarter. Cetera Investment Advisers increased its stake in Crocs by 7.8% during the first quarter. Cetera Investment Advisers now owns 21,299 shares of the textile maker's stock worth $2,262,000 after acquiring an additional 1,549 shares during the last quarter. Wedbush Securities Inc. increased its stake in Crocs by 5.5% during the first quarter. Wedbush Securities Inc. now owns 2,591 shares of the textile maker's stock worth $275,000 after acquiring an additional 135 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Crocs during the first quarter worth $40,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Crocs by 60.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,662 shares of the textile maker's stock worth $5,274,000 after acquiring an additional 18,759 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Activity 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 sale, the director owned 27,505 shares of the company's stock, valued at approximately $3,187,554.45. This represents a 9.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Crocs Stock Performance

NASDAQ CROX traded down $1.02 on Tuesday, hitting $104.62. 427,304 shares of the company's stock were exchanged, compared to its average volume of 1,617,907. 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 firm's 50-day moving average price is $104.12 and its two-hundred day moving average price is $102.67. Crocs, Inc. has a fifty-two week low of $86.11 and a fifty-two week high of $151.13. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 6.42, a P/E/G ratio of 2.21 and a beta of 1.38.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.51 by $0.49. The business had revenue of $937.33 million for the quarter, compared to analyst estimates of $907.07 million. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.02 EPS. On average, research analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CROX. Stifel Nicolaus cut their target price on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Loop Capital lifted their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. UBS Group reiterated a "neutral" rating and issued a $110.00 target price (up from $105.00) on shares of Crocs in a report on Monday. Needham & Company LLC lifted their price target on Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Bank of America cut their target price on Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.60.

Crocs 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.