Short Interest in Crocs, Inc. (NASDAQ:CROX) Declines By 7.6%

Crocs, Inc. (NASDAQ:CROX) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 5,080,000 shares, a decline of 7.6% from the March 15th total of 5,500,000 shares. Approximately 8.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,460,000 shares, the short-interest ratio is presently 3.5 days.

Crocs Stock Performance

NASDAQ CROX opened at $120.68 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $7.30 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.55 and a beta of 2.01. Crocs has a 12-month low of $74.00 and a 12-month high of $151.32. The firm has a 50-day moving average price of $126.12 and a two-hundred day moving average price of $105.64.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. The firm had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 EPS. Analysts anticipate that Crocs will post 12.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus boosted their price objective on shares of Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Raymond James boosted their price objective on shares of Crocs from $120.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 16th. Williams Trading restated a “hold” rating and set a $125.00 price objective (down from $135.00) on shares of Crocs in a research note on Tuesday. Finally, B. Riley lifted their target price on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.09.

Insider Buying and Selling at Crocs

In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of Crocs stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at approximately $25,981,834.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the transaction, the executive vice president now owns 219,293 shares in the company, valued at $25,981,834.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,867 shares of company stock worth $4,786,276. Insiders own 2.69% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of institutional investors have recently added to or reduced their stakes in the stock. Asio Capital LLC increased its position in Crocs by 0.7% during the 1st quarter. Asio Capital LLC now owns 45,900 shares of the textile maker’s stock worth $6,600,000 after purchasing an additional 307 shares in the last quarter. Signet Financial Management LLC acquired a new position in Crocs during the 1st quarter worth approximately $201,000. Global Assets Advisory LLC acquired a new position in Crocs during the 1st quarter worth approximately $7,399,000. FCF Advisors LLC increased its position in Crocs by 8.5% during the 1st quarter. FCF Advisors LLC now owns 8,153 shares of the textile maker’s stock worth $1,172,000 after purchasing an additional 637 shares in the last quarter. Finally, Washington Capital Management Inc. acquired a new position in Crocs in the 1st quarter valued at approximately $676,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.