Cricut, Inc. (NASDAQ:CRCT) Plans $0.50 Semi-Annual Dividend

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) declared a Semi-Annual dividend on Tuesday, May 7th, Zacks reports. Investors of record on Tuesday, July 2nd will be given a dividend of 0.50 per share on Friday, July 19th. This represents a yield of 1.3%. The ex-dividend date is Tuesday, July 2nd.

Cricut Trading Down 3.4 %

CRCT traded down $0.28 during midday trading on Thursday, hitting $7.86. The company's stock had a trading volume of 1,713,206 shares, compared to its average volume of 933,051. Cricut has a 52-week low of $4.43 and a 52-week high of $17.89. The firm has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $6.06. The firm has a market cap of $1.70 billion, a P/E ratio of 32.13 and a beta of 0.03.

Cricut (NASDAQ:CRCT - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a return on equity of 9.59% and a net margin of 7.01%. The company had revenue of $231.25 million during the quarter, compared to analyst estimates of $252.67 million. During the same period in the prior year, the business posted $0.05 earnings per share. Cricut's revenue was down 17.6% on a year-over-year basis. On average, equities analysts expect that Cricut will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Cricut from $7.00 to $5.75 and set a "neutral" rating for the company in a research report on Wednesday, March 6th. Barclays lowered their price target on Cricut from $6.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, March 7th. Finally, Citigroup lowered their target price on shares of Cricut from $8.50 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, March 6th.

Insider Activity

In related news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $4.83, for a total transaction of $4,830,000.00. Following the sale, the insider now owns 5,273,978 shares of the company's stock, valued at $25,473,313.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 18.02% 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.