Crocs, Inc. (CROX) Sees Significant Drop in Short Interest

Crocs, Inc. (NASDAQ:CROX) was the target of a large decrease in short interest during the month of September. As of September 28th, there was short interest totalling 8,540,278 shares, a decrease of 13.8% from the September 14th total of 9,906,470 shares. Based on an average daily volume of 1,051,910 shares, the short-interest ratio is presently 8.1 days. Currently, 13.0% of the shares of the stock are sold short.

Several equities analysts have recently issued reports on CROX shares. TheStreet raised shares of Crocs from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Pivotal Research reaffirmed a “buy” rating and set a $21.00 price target on shares of Crocs in a research note on Tuesday, August 7th. BidaskClub raised shares of Crocs from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. Finally, Zacks Investment Research raised shares of Crocs from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.14.

In related news, insider Daniel P. Hart sold 20,831 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $20.00, for a total value of $416,620.00. Following the completion of the transaction, the insider now owns 347,706 shares of the company’s stock, valued at approximately $6,954,120. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Smach sold 74,400 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $20.14, for a total transaction of $1,498,416.00. Following the completion of the transaction, the director now directly owns 125,262 shares of the company’s stock, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CROX. Wells Fargo & Company MN raised its stake in Crocs by 3.3% during the first quarter. Wells Fargo & Company MN now owns 108,290 shares of the textile maker’s stock worth $1,760,000 after buying an additional 3,487 shares during the last quarter. BlackRock Inc. raised its stake in Crocs by 3.8% during the first quarter. BlackRock Inc. now owns 9,452,829 shares of the textile maker’s stock worth $153,608,000 after buying an additional 346,122 shares during the last quarter. Hsbc Holdings PLC raised its stake in Crocs by 211.6% during the first quarter. Hsbc Holdings PLC now owns 63,245 shares of the textile maker’s stock worth $1,027,000 after buying an additional 42,945 shares during the last quarter. Sei Investments Co. raised its stake in Crocs by 151.1% during the first quarter. Sei Investments Co. now owns 16,759 shares of the textile maker’s stock worth $273,000 after buying an additional 10,085 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Crocs during the first quarter worth $306,000. 97.24% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CROX opened at $19.94 on Friday. Crocs has a twelve month low of $8.64 and a twelve month high of $22.07. The firm has a market cap of $1.45 billion, a P/E ratio of -967.00, a PEG ratio of 5.26 and a beta of 0.50.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, August 7th. The textile maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.26. Crocs had a net margin of 2.29% and a return on equity of 13.84%. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $321.47 million. On average, analysts expect that Crocs will post 0.27 EPS for the current fiscal year.

Crocs Company Profile

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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