State of Wyoming Buys 50,514 Shares of Cricut, Inc. (NASDAQ:CRCT)

State of Wyoming lifted its stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 138.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,097 shares of the company's stock after buying an additional 50,514 shares during the period. State of Wyoming's holdings in Cricut were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Cricut by 25.8% during the fourth quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock valued at $6,783,000 after purchasing an additional 244,058 shares during the period. Geode Capital Management LLC increased its holdings in Cricut by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company's stock valued at $6,246,000 after buying an additional 14,191 shares during the period. Renaissance Technologies LLC increased its holdings in Cricut by 9.9% in the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after buying an additional 55,011 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cricut by 175.0% in the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock valued at $2,716,000 after buying an additional 303,236 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cricut by 10.9% during the 4th quarter. Northern Trust Corp now owns 451,772 shares of the company's stock worth $2,575,000 after acquiring an additional 44,260 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

Cricut Stock Performance

CRCT opened at $6.18 on Tuesday. The firm's 50-day simple moving average is $5.16 and its 200-day simple moving average is $5.49. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.17. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 22.07 and a beta of 0.01.

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

Cricut Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRCT. Morgan Stanley lowered 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. Citigroup reiterated a "sell" rating and issued a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Insider Buying and Selling

In related news, CEO Arora Ashish sold 60,000 shares of the company's stock in a transaction dated 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 owns 3,391,635 shares in the company, valued at $18,959,239.65. This represents a 1.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 305,009 shares of company stock worth $1,785,494 in the last three months. Insiders own 18.61% of the company's stock.

About Cricut

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.

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