American Century Companies Inc. Boosts Stake in Cricut, Inc. $CRCT

American Century Companies Inc. lifted its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,544,659 shares of the company’s stock after purchasing an additional 159,339 shares during the quarter. American Century Companies Inc. owned about 0.73% of Cricut worth $10,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Cricut in the 2nd quarter worth approximately $80,000. Copeland Capital Management LLC grew its stake in shares of Cricut by 16.4% in the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company’s stock valued at $92,000 after buying an additional 1,917 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Cricut by 43.7% in the 1st quarter. Jane Street Group LLC now owns 20,176 shares of the company’s stock valued at $104,000 after buying an additional 6,140 shares during the period. Quantbot Technologies LP lifted its stake in Cricut by 51.2% during the 1st quarter. Quantbot Technologies LP now owns 21,777 shares of the company’s stock worth $112,000 after acquiring an additional 7,377 shares in the last quarter. Finally, Caisse Des Depots ET Consignations boosted its holdings in Cricut by 96.8% during the 1st quarter. Caisse Des Depots ET Consignations now owns 24,965 shares of the company’s stock valued at $129,000 after acquiring an additional 12,277 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $4.83, for a total value of $289,800.00. Following the completion of the transaction, the chief executive officer owned 4,430,441 shares in the company, valued at approximately $21,399,030.03. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 301,726 shares of company stock valued at $1,655,901. Corporate insiders own 18.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRCT. Weiss Ratings reissued a “hold (c-)” rating on shares of Cricut in a research report on Monday. The Goldman Sachs Group downgraded shares of Cricut from a “neutral” rating to a “sell” rating and cut their target price for the stock from $5.50 to $4.75 in a research note on Thursday, October 16th. Finally, Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $4.18.

Cricut Stock Performance

NASDAQ:CRCT opened at $5.08 on Friday. The stock has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.73. The stock has a market cap of $1.08 billion, a P/E ratio of 13.37 and a beta of 0.18. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33.

Cricut (NASDAQ:CRCT) last issued its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $170.44 million for the quarter, compared to analyst estimates of $156.93 million. Cricut had a return on equity of 19.91% and a net margin of 11.31%. On average, equities research analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 6th will be given a dividend of $0.10 per share. This represents a dividend yield of 399.0%. The ex-dividend date is Tuesday, January 6th. Cricut’s payout ratio is currently 52.63%.

Cricut 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.