Crown Crafts, Inc. (CRWS) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC lowered its position in Crown Crafts, Inc. (NASDAQ:CRWS) by 6.5% during the first quarter, Holdings Channel reports. The institutional investor owned 268,800 shares of the textile maker’s stock after selling 18,700 shares during the period. Renaissance Technologies LLC’s holdings in Crown Crafts were worth $2,211,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CRWS. Royce & Associates LP boosted its position in Crown Crafts by 5.7% in the first quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock worth $1,732,000 after buying an additional 11,400 shares in the last quarter. Wellington Management Group LLP boosted its position in Crown Crafts by 3.3% in the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock worth $7,439,000 after buying an additional 28,400 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Crown Crafts by 3,825.5% in the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock worth $194,000 after buying an additional 22,953 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in Crown Crafts by 8.8% in the first quarter. Cutter & CO Brokerage Inc. now owns 61,800 shares of the textile maker’s stock worth $509,000 after buying an additional 5,000 shares in the last quarter. Finally, LSV Asset Management boosted its position in Crown Crafts by 4.4% in the first quarter. LSV Asset Management now owns 47,100 shares of the textile maker’s stock worth $388,000 after buying an additional 1,978 shares in the last quarter. Institutional investors and hedge funds own 42.20% of the company’s stock.
Shares of Crown Crafts, Inc. (NASDAQ CRWS) traded down 0.709% during trading on Thursday, reaching $6.305. 1,017 shares of the company’s stock traded hands. The company has a market cap of $63.41 million, a price-to-earnings ratio of 12.867 and a beta of 0.47. The company’s 50-day moving average is $5.97 and its 200 day moving average is $7.23. Crown Crafts, Inc. has a 52-week low of $5.40 and a 52-week high of $10.24.
Crown Crafts (NASDAQ:CRWS) last announced its quarterly earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The company had revenue of $13.65 million for the quarter, compared to analysts’ expectations of $13.49 million. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. Equities analysts forecast that Crown Crafts, Inc. will post $0.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, September 14th. Crown Crafts’s payout ratio is 64.00%.
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A number of research firms recently issued reports on CRWS. Zacks Investment Research upgraded shares of Crown Crafts from a “sell” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Tuesday. FBR & Co upgraded shares of Crown Crafts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.00 to $7.50 in a research report on Friday, August 11th. TheStreet cut shares of Crown Crafts from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the stock a “buy” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Crown Crafts presently has an average rating of “Buy” and an average price target of $7.56.
In other news, Director Donald R. Ratajczak purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the purchase, the director now directly owns 125,151 shares in the company, valued at approximately $719,618.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 14.17% of the company’s stock.
Crown Crafts Company Profile
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc and Hamco, Inc, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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