Short Interest in Crocs, Inc. (NASDAQ:CROX) Drops By 5.5%

Crocs, Inc. (NASDAQ:CROX) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,450,000 shares, a drop of 5.5% from the August 15th total of 4,710,000 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John B. Replogle acquired 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the purchase, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in shares of Crocs during the first quarter worth about $25,000. Rise Advisors LLC purchased a new position in shares of Crocs in the 1st quarter valued at about $25,000. GHP Investment Advisors Inc. increased its stake in Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. Quest Partners LLC acquired a new stake in Crocs during the fourth quarter worth approximately $53,000. Finally, Quadrant Capital Group LLC lifted its position in Crocs by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Stock Up 1.0 %

CROX stock opened at $139.81 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average of $134.45 and a two-hundred day moving average of $137.58. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.29 and a beta of 2.00. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, beating the consensus estimate of $3.59 by $0.42. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.59 EPS. As a group, analysts forecast that Crocs will post 12.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Bank of America boosted their target price on shares of Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $170.00 target price on shares of Crocs in a research note on Friday, August 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.27.

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.