Crocs, Inc. (CROX) Stake Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. reduced its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 83.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 115,640 shares of the textile maker’s stock after selling 586,875 shares during the period. JPMorgan Chase & Co.’s holdings in Crocs were worth $1,106,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP purchased a new position in shares of Crocs during the 3rd quarter worth about $1,643,000. Macquarie Group Ltd. purchased a new position in shares of Crocs during the 3rd quarter worth about $520,000. Russell Investments Group Ltd. lifted its holdings in shares of Crocs by 2.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 277,174 shares of the textile maker’s stock worth $2,688,000 after acquiring an additional 6,399 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Crocs by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 27,800 shares of the textile maker’s stock valued at $270,000 after buying an additional 10,290 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Crocs by 36.7% in the third quarter. BNP Paribas Arbitrage SA now owns 44,863 shares of the textile maker’s stock valued at $435,000 after buying an additional 12,037 shares during the period. Institutional investors and hedge funds own 91.94% of the company’s stock.
Crocs, Inc. (NASDAQ CROX) opened at $13.61 on Friday. Crocs, Inc. has a 1-year low of $5.93 and a 1-year high of $14.30. The company has a market cap of $937.03, a P/E ratio of -43.90, a P/E/G ratio of 2.96 and a beta of 0.43.
CROX has been the topic of several research reports. Zacks Investment Research lowered shares of Crocs from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. BidaskClub upgraded shares of Crocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Buckingham Research lowered shares of Crocs from a “neutral” rating to an “underperform” rating in a report on Friday, January 5th. Pivotal Research initiated coverage on shares of Crocs in a report on Thursday, October 5th. They issued a “hold” rating and a $9.50 price target on the stock. Finally, ValuEngine lowered shares of Crocs from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Crocs presently has a consensus rating of “Hold” and an average price target of $10.67.
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Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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