Victory Capital Management Inc. Buys 8,353 Shares of Crocs, Inc. (NASDAQ:CROX)

Key Points

• Victory Capital Management Inc. increased its stake in Crocs, Inc. by 29.6% during Q1, purchasing an additional 8,353 shares to hold 36,563 shares valued at approximately $3.88 million.
• Several large investors have also made moves, with Larson Financial Group LLC growing its holdings by 541.8% during the first quarter, and overall 93.44% of the company's stock is now owned by institutional investors.
• Crocs reported earnings of $3.00 per share, exceeding expectations, and indicated a net margin of 23.35% despite a 0.1% year-over-year revenue decline.

Victory Capital Management Inc. raised its position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,563 shares of the textile maker's stock after purchasing an additional 8,353 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Crocs worth $3,883,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CROX. Larson Financial Group LLC grew its holdings in shares of Crocs by 541.8% in the first 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 last quarter. Allianz SE bought a new stake in shares of Crocs in the 4th quarter valued at about $53,000. Salem Investment Counselors Inc. bought a new stake in shares of Crocs in the 1st quarter valued at about $53,000. Ameriflex Group Inc. bought a new stake in shares of Crocs in the 4th quarter valued at about $54,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Crocs in the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insiders Place Their Bets

In related news, Director Ian Bickley sold 3,044 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.72% of the stock is owned by insiders.

Crocs Price Performance

NASDAQ CROX opened at $106.75 on Monday. The company has a fifty day simple moving average of $104.30 and a 200 day simple moving average of $102.70. The company has a market cap of $5.98 billion, a P/E ratio of 6.54, a P/E/G ratio of 2.21 and a beta of 1.38. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Crocs, Inc. has a 1 year low of $86.11 and a 1 year high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $3.00 earnings per share (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 analysts' expectations of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The business's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.02 EPS. On average, sell-side analysts predict that Crocs, Inc. will post 13.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America dropped their price objective on shares of Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, June 30th. Stifel Nicolaus cut their target price on Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Loop Capital boosted their target price on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Finally, Barclays lowered their price objective on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Crocs currently has a consensus rating of "Moderate Buy" and an average price target of $135.07.

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.

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