Alambic Investment Management L.P. Reduces Stake in Crocs, Inc. (CROX)
Alambic Investment Management L.P. lowered its position in Crocs, Inc. (NASDAQ:CROX) by 57.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,490 shares of the textile maker’s stock after selling 84,400 shares during the quarter. Alambic Investment Management L.P.’s holdings in Crocs were worth $1,118,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Crocs by 3.7% in the second quarter. BlackRock Inc. now owns 9,800,291 shares of the textile maker’s stock valued at $172,582,000 after purchasing an additional 347,462 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Crocs by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,246,230 shares of the textile maker’s stock valued at $74,776,000 after purchasing an additional 23,147 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Crocs by 8.6% in the second quarter. Renaissance Technologies LLC now owns 3,631,000 shares of the textile maker’s stock valued at $63,942,000 after purchasing an additional 287,800 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Crocs in the first quarter valued at about $14,109,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Crocs by 89.8% in the second quarter. Acadian Asset Management LLC now owns 665,611 shares of the textile maker’s stock valued at $11,724,000 after purchasing an additional 314,845 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on CROX. Piper Jaffray Companies set a $20.00 price objective on shares of Crocs and gave the company a “buy” rating in a report on Friday, June 1st. BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Pivotal Research raised shares of Crocs from a “hold” rating to a “buy” rating and upped their target price for the company from $15.00 to $21.00 in a research report on Wednesday, July 25th. Zacks Investment Research cut shares of Crocs from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, TheStreet raised shares of Crocs from a “c+” rating to a “b” rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.86.
NASDAQ CROX opened at $21.12 on Friday. Crocs, Inc. has a 12 month low of $8.64 and a 12 month high of $21.60. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -1,056.00, a P/E/G ratio of 5.13 and a beta of 0.49.
Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, August 7th. The textile maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.26. The business had revenue of $328.00 million for the quarter, compared to analysts’ expectations of $321.47 million. Crocs had a net margin of 2.29% and a return on equity of 13.84%. equities research analysts forecast that Crocs, Inc. will post 0.27 EPS for the current fiscal year.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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