Crown Crafts (NASDAQ:CRWS) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Crown Crafts, Inc. (NASDAQ:CRWS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as high as $3.00. Crown Crafts shares last traded at $2.99, with a volume of 72,569 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Crown Crafts currently has an average rating of “Hold”.

Crown Crafts Trading Up 0.7%

The company has a market cap of $32.17 million, a price-to-earnings ratio of 16.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.58 and a quick ratio of 1.53. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $2.83.

Crown Crafts (NASDAQ:CRWS) last released its quarterly earnings results on Wednesday, June 24th. The textile maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.20). Crown Crafts had a net margin of 2.24% and a return on equity of 4.78%. The business had revenue of $22.38 million during the quarter, compared to analyst estimates of $22.30 million.

Crown Crafts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.32 annualized dividend and a yield of 10.7%. Crown Crafts’s dividend payout ratio (DPR) is presently 177.78%.

Institutional Trading of Crown Crafts

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mariner LLC acquired a new stake in shares of Crown Crafts during the fourth quarter valued at $28,000. Institute for Wealth Management LLC. acquired a new position in Crown Crafts in the 4th quarter valued at about $28,000. XTX Topco Ltd acquired a new position in Crown Crafts in the 4th quarter valued at about $32,000. HB Wealth Management LLC purchased a new position in Crown Crafts in the 4th quarter valued at about $41,000. Finally, Weinberger Asset Management Inc purchased a new position in Crown Crafts in the 4th quarter valued at about $61,000. 30.23% of the stock is currently owned by hedge funds and other institutional investors.

About Crown Crafts

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.