First Trust Advisors LP Sells 17,869 Shares of Cricut, Inc. (NASDAQ:CRCT)

First Trust Advisors LP lessened its stake in Cricut, Inc. (NASDAQ:CRCT) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,039 shares of the company’s stock after selling 17,869 shares during the quarter. First Trust Advisors LP owned about 0.07% of Cricut worth $884,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Cricut in the 4th quarter valued at approximately $36,000. Copeland Capital Management LLC acquired a new stake in Cricut in the fourth quarter worth $63,000. Drive Wealth Management LLC bought a new position in shares of Cricut during the fourth quarter worth $64,000. Olympiad Research LP acquired a new position in shares of Cricut in the 4th quarter valued at $67,000. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Cricut in the 4th quarter valued at $72,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Insider Transactions at Cricut

In related news, CEO Arora Ashish sold 5,283 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $5.25, for a total transaction of $27,735.75. Following the transaction, the chief executive officer now directly owns 4,059,329 shares in the company, valued at approximately $21,311,477.25. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 185,009 shares of company stock worth $1,040,894 in the last 90 days. Corporate insiders own 18.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRCT. Citigroup reissued a “sell” rating and issued a $4.00 target price (down from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley cut their price target on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research note on Thursday, March 6th.

Cricut Stock Up 5.2 %

NASDAQ CRCT opened at $6.42 on Friday. The firm’s 50 day moving average is $5.05 and its 200-day moving average is $5.52. The company has a market capitalization of $1.36 billion, a PE ratio of 22.91 and a beta of 0.01. Cricut, Inc. has a 12-month low of $3.94 and a 12-month high of $8.40.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million for the quarter, compared to analysts’ expectations of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. As a group, sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

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

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.