Chicago Partners Investment Group LLC increased its position in Cricut, Inc. (NASDAQ:CRCT – Get Rating) by 84.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,855 shares of the company’s stock after acquiring an additional 34,730 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Cricut were worth $627,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Cricut by 38.6% in the 1st quarter. State Street Corp now owns 129,497 shares of the company’s stock worth $1,695,000 after acquiring an additional 36,060 shares during the last quarter. Swiss National Bank bought a new position in Cricut in the 4th quarter worth about $596,000. Northern Trust Corp increased its stake in Cricut by 57.6% in the 4th quarter. Northern Trust Corp now owns 68,272 shares of the company’s stock worth $1,508,000 after acquiring an additional 24,949 shares during the last quarter. First Trust Advisors LP increased its stake in Cricut by 62.0% in the 4th quarter. First Trust Advisors LP now owns 59,956 shares of the company’s stock worth $1,325,000 after acquiring an additional 22,949 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Cricut by 27,504.0% in the 1st quarter. JPMorgan Chase & Co. now owns 20,703 shares of the company’s stock worth $271,000 after acquiring an additional 20,628 shares during the last quarter. Hedge funds and other institutional investors own 16.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CRCT shares. Morgan Stanley decreased their target price on Cricut from $6.00 to $5.70 and set an “underweight” rating on the stock in a research note on Wednesday, August 10th. Citigroup reduced their price objective on Cricut from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. Finally, Barclays reduced their price objective on Cricut from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, August 11th.
Cricut Trading Up 1.8 %
Cricut (NASDAQ:CRCT – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $183.76 million for the quarter, compared to the consensus estimate of $218.81 million. Cricut had a net margin of 7.36% and a return on equity of 11.48%. Cricut’s revenue for the quarter was down 45.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. As a group, analysts predict that Cricut, Inc. will post 0.4 earnings per share for the current fiscal year.
Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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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