BloombergSen Inc. Acquires 5,950 Shares of Cricut, Inc. (NASDAQ:CRCT)

BloombergSen Inc. boosted its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,234 shares of the company’s stock after purchasing an additional 5,950 shares during the quarter. Cricut comprises approximately 0.0% of BloombergSen Inc.’s holdings, making the stock its 22nd largest position. BloombergSen Inc.’s holdings in Cricut were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Cricut by 5.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 172,166 shares of the company’s stock valued at $1,595,000 after acquiring an additional 8,151 shares during the period. Abdiel Capital Advisors LP increased its holdings in shares of Cricut by 2.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 14,886,303 shares of the company’s stock worth $137,996,000 after purchasing an additional 337,869 shares during the period. HRT Financial LP acquired a new position in shares of Cricut during the fourth quarter valued at about $215,000. Swiss National Bank lifted its stake in shares of Cricut by 3.4% in the fourth quarter. Swiss National Bank now owns 64,000 shares of the company’s stock valued at $593,000 after buying an additional 2,100 shares during the period. Finally, California State Teachers Retirement System grew its position in Cricut by 16.3% during the first quarter. California State Teachers Retirement System now owns 12,335 shares of the company’s stock worth $161,000 after buying an additional 1,732 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Stock Up 0.6 %

NASDAQ:CRCT opened at $9.61 on Tuesday. The firm has a market capitalization of $2.11 billion, a PE ratio of 43.68 and a beta of 0.37. Cricut, Inc. has a 12-month low of $7.15 and a 12-month high of $17.89. The firm has a 50-day moving average price of $11.00 and a 200 day moving average price of $10.73.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $175.00 million. Cricut had a return on equity of 7.48% and a net margin of 5.93%. Cricut’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. On average, research analysts expect that Cricut, Inc. will post 0.26 EPS for the current year.

Cricut Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were issued a dividend of $1.00 per share. The ex-dividend date was Friday, June 30th. This is a boost from Cricut’s previous dividend of $0.35.

Insider Activity

In related news, CEO Arora Ashish sold 30,194 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $10.09, for a total transaction of $304,657.46. Following the completion of the sale, the chief executive officer now owns 2,400,575 shares in the company, valued at approximately $24,221,801.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Arora Ashish sold 30,194 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $10.09, for a total value of $304,657.46. Following the transaction, the chief executive officer now owns 2,400,575 shares in the company, valued at $24,221,801.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan Harmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $9.51, for a total value of $190,200.00. Following the sale, the insider now directly owns 246,126 shares of the company’s stock, valued at $2,340,658.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,178 shares of company stock worth $811,042. Corporate insiders own 18.46% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup started coverage on Cricut in a research report on Monday, August 28th. They issued a “neutral” rating and a $10.50 price objective for the company.

About Cricut

Cricut, Inc engages in the design and marketing of 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.