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

Crocs, Inc. (NASDAQ:CROX) was the target of a significant 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 shares of the stock are sold short. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. B. Riley boosted their price objective on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. 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 report on Friday, February 16th. 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 report on Friday, February 16th. Williams Trading reaffirmed a “hold” rating and issued a $125.00 target price (down from $135.00) on shares of Crocs in a research note on Tuesday. Finally, Stifel Nicolaus lifted their target price 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 analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Crocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.09.

Insider Buying and Selling at Crocs

In other Crocs news, President Michelle Poole sold 4,793 shares of Crocs stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the sale, the president now directly owns 64,912 shares in the company, valued at $7,734,264.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the completion of the sale, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the sale, the president now owns 64,912 shares of the company’s stock, valued at $7,734,264.80. The disclosure for this sale can be found here. Insiders sold a total of 39,867 shares of company stock worth $4,786,276 over the last three months. 2.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. WIT Partners Advisory Pte. Ltd. bought a new stake in shares of Crocs during the 4th quarter valued at $266,431,000. Coatue Management LLC boosted 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 in the last quarter. Norges Bank bought a new stake in shares of Crocs during the 4th quarter valued at $72,211,000. Morgan Stanley boosted its holdings in shares of Crocs by 97.9% during the 4th quarter. Morgan Stanley now owns 1,300,768 shares of the textile maker’s stock valued at $141,042,000 after buying an additional 643,578 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Crocs by 278.9% during the 1st quarter. Two Sigma Advisers LP now owns 849,600 shares of the textile maker’s stock valued at $107,423,000 after buying an additional 625,400 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Stock Down 2.2 %

Shares of Crocs stock opened at $120.68 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $126.12 and its two-hundred day simple moving average is $105.64. The company has a market cap of $7.30 billion, a P/E ratio of 9.42, a PEG 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.

Crocs (NASDAQ:CROX) last issued 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 business had revenue of $960.10 million for 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 company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 EPS. Research analysts anticipate that Crocs will post 12.46 EPS for the current year.

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.