Crocs, Inc. (NASDAQ:CROX) Sees Significant Increase in Short Interest

Crocs, Inc. (NASDAQ:CROX) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 6,710,000 shares, an increase of 16.3% from the February 13th total of 5,770,000 shares. Currently, 12.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 4.3 days.

Crocs Stock Down 1.4 %

Shares of NASDAQ:CROX opened at $105.48 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. Crocs has a 52-week low of $88.25 and a 52-week high of $165.32. The stock’s fifty day simple moving average is $102.24 and its 200-day simple moving average is $114.13. The company has a market capitalization of $5.91 billion, a P/E ratio of 6.60, a P/E/G ratio of 1.80 and a beta of 1.84.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. As a group, equities research analysts forecast that Crocs will post 13.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

CROX has been the subject of a number of research analyst reports. Loop Capital upgraded Crocs from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, March 12th. UBS Group increased their price target on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Bank of America increased their price target on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Robert W. Baird decreased their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Finally, Guggenheim decreased their target price on Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Insider Buying and Selling at Crocs

In other Crocs news, EVP Adam Michaels sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the sale, the executive vice president now directly owns 89,323 shares in the company, valued at $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the transaction, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crocs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Crocs by 46.6% in the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after buying an additional 142 shares in the last quarter. Allianz SE acquired a new stake in shares of Crocs in the fourth quarter valued at about $53,000. Ameriflex Group Inc. acquired a new stake in shares of Crocs in the fourth quarter valued at about $54,000. Avior Wealth Management LLC grew its stake in shares of Crocs by 109.5% in the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock valued at $58,000 after buying an additional 208 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Crocs in the third quarter valued at about $73,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

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.