Profit Investment Management LLC Trims Stake in Crocs, Inc. $CROX

Key Points

• Profit Investment Management LLC reduced its stake in Crocs, Inc. by 12.6%, now holding 22,326 shares valued at approximately $2.26 million as of its latest SEC filing.
• During the same period, several institutional investors increased their positions in Crocs, indicating a possible trend of interest among hedge funds, with 93.44% of the stock owned by such investors.
• Crocs reported $4.23 EPS for the last quarter, surpassing analysts' expectations, and its revenue increased by 3.4% year-over-year.

Profit Investment Management LLC reduced its holdings in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,326 shares of the textile maker's stock after selling 3,223 shares during the period. Crocs comprises 2.0% of Profit Investment Management LLC's portfolio, making the stock its 16th largest holding. Profit Investment Management LLC's holdings in Crocs were worth $2,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CROX. Costello Asset Management INC bought a new position in shares of Crocs in the first quarter worth approximately $32,000. Larson Financial Group LLC boosted its position in shares of Crocs by 541.8% during the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock worth $37,000 after acquiring an additional 298 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Crocs during the first quarter valued at $40,000. Brooklyn Investment Group bought a new position in Crocs during the first quarter valued at $40,000. Finally, Salem Investment Counselors Inc. bought a new position in Crocs during the first quarter valued at $53,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Stock Down 0.0%

CROX stock opened at $80.32 on Friday. The firm has a 50 day moving average of $90.45 and a 200 day moving average of $98.39. The stock has a market capitalization of $4.39 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.40. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. Crocs, Inc. has a 52 week low of $73.76 and a 52 week high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, topping analysts' consensus estimates of $4.01 by $0.22. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. Crocs had a net margin of 5.72% and a return on equity of 44.15%. Crocs's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $4.01 EPS. Crocs has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insider Activity at Crocs

In other Crocs news, Director John B. Replogle acquired 3,261 shares of the firm's stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $76.69 per share, for a total transaction of $250,086.09. Following the purchase, the director owned 15,417 shares in the company, valued at approximately $1,182,329.73. The trade was a 26.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan L. Healy acquired 2,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $76.56 per share, with a total value of $153,120.00. Following the completion of the purchase, the executive vice president owned 50,078 shares in the company, valued at approximately $3,833,971.68. This trade represents a 4.16% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CROX. Bank of America lowered their price objective on shares of Crocs from $135.00 to $99.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Stifel Nicolaus reissued a "hold" rating and issued a $85.00 target price (down previously from $127.00) on shares of Crocs in a research note on Friday, August 8th. Needham & Company LLC raised their price target on shares of Crocs from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. UBS Group reduced their price target on shares of Crocs from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Finally, Monness Crespi & Hardt reduced their price target on shares of Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $105.33.

About Crocs

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.

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