Private Advisor Group LLC Cuts Stake in Crocs, Inc. (NASDAQ:CROX)

Key Points

• Private Advisor Group LLC reduced its stake in Crocs, Inc. by 57.3%, selling 3,206 shares, leaving them with 2,390 shares valued at approximately $254,000.
• Crocs reported a quarterly EPS of $3.00, exceeding analyst expectations by $0.49, with quarterly revenue at $937.33 million, slightly down from the previous year.
• Wall Street analysts have mixed ratings on Crocs' stock, with eleven buy ratings, three hold ratings, and one sell rating, and an average target price set at $131.00.

Private Advisor Group LLC lowered its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 57.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,390 shares of the textile maker's stock after selling 3,206 shares during the quarter. Private Advisor Group LLC's holdings in Crocs were worth $254,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake in Crocs by 29.6% in the 1st quarter. Victory Capital Management Inc. now owns 36,563 shares of the textile maker's stock valued at $3,883,000 after acquiring an additional 8,353 shares during the period. Walter Public Investments Inc. boosted its stake in Crocs by 5.6% in the first quarter. Walter Public Investments Inc. now owns 70,475 shares of the textile maker's stock worth $7,484,000 after buying an additional 3,736 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Crocs by 184.3% in the first quarter. D.A. Davidson & CO. now owns 7,083 shares of the textile maker's stock worth $752,000 after buying an additional 4,592 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Crocs in the fourth quarter worth approximately $419,000. Finally, PFG Investments LLC purchased a new stake in Crocs in the first quarter worth approximately $1,297,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Crocs Trading Up 3.3%

Shares of Crocs stock traded up $3.23 during midday trading on Monday, reaching $100.36. 1,570,140 shares of the company's stock traded hands, compared to its average volume of 1,144,014. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52. The company has a market cap of $5.63 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The stock has a 50 day moving average of $103.28 and a 200-day moving average of $102.58. Crocs, Inc. has a 12 month low of $86.11 and a 12 month high of $151.13.

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

Analyst Upgrades and Downgrades

CROX has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating and issued a $110.00 price objective (up previously from $105.00) on shares of Crocs in a research report on Monday, July 28th. The Goldman Sachs Group lowered their price objective on Crocs from $88.00 to $87.00 and set a "sell" rating for the company in a research report on Tuesday, July 22nd. Stifel Nicolaus lowered their price objective on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America lowered their price objective on Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Finally, Piper Sandler lowered their price objective on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.46.

Insider Transactions at Crocs

In other Crocs news, Director Ian Bickley sold 3,044 shares of the stock in a transaction 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 owned 27,505 shares in the company, valued at approximately $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.72% of the company's stock.

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.