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. Currently, 8.7% of the company’s shares are sold short. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is presently 3.5 days.

Crocs Stock Down 2.2 %

CROX traded down $2.68 on Tuesday, reaching $120.68. The company’s stock had a trading volume of 1,625,528 shares, compared to its average volume of 1,454,587. The stock has a 50 day moving average of $126.12 and a two-hundred day moving average of $105.64. 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 price-to-earnings ratio of 9.42, a P/E/G ratio of 1.58 and a beta of 2.01. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $151.32.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. B. Riley boosted their price target on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Piper Sandler boosted their price target 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. Bank of America boosted their price target on shares of Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus boosted their price target 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and a consensus price target of $147.09.

Insider Activity

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 owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John B. Replogle acquired 1,972 shares of Crocs stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the acquisition, the director now owns 3,153 shares in the company, valued at $399,642.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the director now owns 31,815 shares in the company, valued at $3,819,390.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crocs

Several large investors have recently modified their holdings of CROX. WIT Partners Advisory Pte. Ltd. purchased a new stake in shares of Crocs during the fourth quarter worth approximately $266,431,000. Coatue Management LLC raised its holdings in shares of Crocs by 836.7% during the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after buying an additional 919,835 shares during the period. Norges Bank purchased a new stake in shares of Crocs during the 4th quarter valued at about $72,211,000. Morgan Stanley increased its holdings in Crocs by 97.9% during the 4th quarter. Morgan Stanley now owns 1,300,768 shares of the textile maker’s stock worth $141,042,000 after purchasing an additional 643,578 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Crocs by 278.9% during the 1st quarter. Two Sigma Advisers LP now owns 849,600 shares of the textile maker’s stock worth $107,423,000 after purchasing an additional 625,400 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.