Susquehanna Fundamental Investments LLC Purchases New Position in Cricut, Inc. (NASDAQ:CRCT)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 97,334 shares of the company's stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in Cricut by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock valued at $186,000 after buying an additional 2,684 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in Cricut in the fourth quarter worth approximately $209,000. Dimensional Fund Advisors LP increased its holdings in Cricut by 46.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 127,114 shares of the company's stock worth $725,000 after purchasing an additional 40,174 shares during the period. XTX Topco Ltd purchased a new stake in shares of Cricut in the 4th quarter worth $300,000. Finally, Mariner LLC increased its stake in shares of Cricut by 41.7% during the fourth quarter. Mariner LLC now owns 124,120 shares of the company's stock valued at $707,000 after buying an additional 36,527 shares during the period. 19.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cricut

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $5.59, for a total transaction of $335,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,391,635 shares of the company's stock, valued at approximately $18,959,239.65. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 185,009 shares of company stock worth $1,040,894 over the last three months. 18.02% of the stock is currently owned by insiders.

Cricut Stock Performance

CRCT stock traded up $1.03 on Wednesday, hitting $6.10. 2,374,860 shares of the company's stock were exchanged, compared to its average volume of 493,998. The firm has a 50 day moving average price of $5.02 and a two-hundred day moving average price of $5.52. Cricut, Inc. has a 12-month low of $3.94 and a 12-month high of $8.40. The stock has a market cap of $1.30 billion, a P/E ratio of 21.79 and a beta of 0.01.

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

Cricut Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 7th. This represents a yield of 3.3%. Cricut's payout ratio is presently 68.97%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup reiterated a "sell" rating and set a $4.00 target price (down from $6.00) on shares of Cricut in a report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research note on Thursday, March 6th.

Cricut Company Profile

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.