Industrial Alliance Investment Management Inc. lowered its holdings in Crocs, Inc. (NASDAQ:CROX – Get Rating) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,741 shares of the textile maker’s stock after selling 49,039 shares during the period. Industrial Alliance Investment Management Inc. owned about 0.22% of Crocs worth $9,114,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Ellevest Inc. grew its position in Crocs by 6,750.0% during the third quarter. Ellevest Inc. now owns 411 shares of the textile maker’s stock worth $28,000 after buying an additional 405 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Crocs in the third quarter worth about $56,000. Quadrant Capital Group LLC lifted its stake in Crocs by 269.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 915 shares of the textile maker’s stock worth $63,000 after purchasing an additional 667 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Crocs by 18.6% in the third quarter. Public Employees Retirement System of Ohio now owns 1,227 shares of the textile maker’s stock worth $84,000 after buying an additional 192 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Crocs by 56.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,821 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 658 shares during the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.
Wall Street Analysts Forecast Growth
CROX has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Crocs from $118.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, January 12th. TheStreet raised shares of Crocs from a “c+” rating to a “b” rating in a research report on Monday, January 30th. Loop Capital increased their target price on Crocs from $165.00 to $185.00 in a research report on Friday, February 17th. UBS Group raised their price objective on Crocs from $107.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, January 12th. Finally, StockNews.com initiated coverage on shares of Crocs in a research report on Thursday. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.29.
Crocs Stock Performance
Crocs (NASDAQ:CROX – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The textile maker reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.47. The firm had revenue of $945.16 million for the quarter, compared to analysts’ expectations of $939.16 million. Crocs had a net margin of 15.19% and a return on equity of 118.32%. The business’s revenue for the quarter was up 61.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.15 earnings per share. Sell-side analysts anticipate that Crocs, Inc. will post 11.19 EPS for the current fiscal year.
Insider Buying and Selling at Crocs
In other news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the transaction, the executive vice president now owns 247,360 shares in the company, valued at $27,209,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas J. Smach purchased 3,000 shares of Crocs stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $113.15 per share, for a total transaction of $339,450.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $339,450. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the executive vice president now owns 247,360 shares in the company, valued at approximately $27,209,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,571 shares of company stock worth $8,354,696. Insiders own 2.71% of the company’s stock.
Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale, and distribution of casual footwear and accessories for men, women, and children. It operates through the following segments: North America, Asia Pacific, Europe, Middle East, Africa, and Latin America (EMEALA), and HEYDUDE Brand.
- Get a free copy of the StockNews.com research report on Crocs (CROX)
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