Wealth Enhancement Advisory Services LLC Reduces Position in Crocs, Inc. (NASDAQ:CROX)

Wealth Enhancement Advisory Services LLC lowered its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 77.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,489 shares of the textile maker's stock after selling 29,574 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Crocs were worth $901,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allianz SE purchased a new stake in shares of Crocs in the 4th quarter worth about $53,000. Salem Investment Counselors Inc. purchased a new stake in Crocs in the first quarter worth about $53,000. Ameriflex Group Inc. purchased a new stake in Crocs in the fourth quarter worth about $54,000. Compagnie Lombard Odier SCmA bought a new stake in Crocs during the 1st quarter valued at approximately $58,000. Finally, Parallel Advisors LLC grew its holdings in shares of Crocs by 26.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the textile maker's stock worth $67,000 after acquiring an additional 132 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Crocs Stock Up 0.7%

NASDAQ CROX traded up $0.76 during mid-day trading on Friday, reaching $107.50. The stock had a trading volume of 560,190 shares, compared to its average volume of 1,522,814. The stock has a market cap of $6.03 billion, a PE ratio of 6.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.38. Crocs, Inc. has a 1 year low of $86.11 and a 1 year high of $151.13. 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 company has a fifty day moving average price of $104.44 and a 200 day moving average price of $103.38.

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 analysts' consensus estimates of $2.51 by $0.49. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The firm had revenue of $937.33 million during the quarter, compared to analyst estimates of $907.07 million. During the same period in the previous year, the business posted $3.02 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

Analysts Set New Price Targets

CROX has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Loop Capital increased their price objective on Crocs from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. The Goldman Sachs Group began coverage on shares of Crocs in a report on Wednesday. They set a "sell" rating and a $88.00 target price on the stock. Barclays reduced their target price on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Bank of America lowered their price target on shares of Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $135.13.

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.