Monarch Partners Asset Management LLC bought a new position in shares of Crocs, Inc. (NASDAQ:CROX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 222,545 shares of the textile maker’s stock, valued at approximately $6,178,000. Monarch Partners Asset Management LLC owned approximately 0.32% of Crocs at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Tibra Equities Europe Ltd acquired a new position in shares of Crocs during the third quarter worth approximately $314,000. First Mercantile Trust Co. acquired a new position in shares of Crocs during the third quarter worth approximately $85,000. Mackay Shields LLC acquired a new position in shares of Crocs during the third quarter worth approximately $319,000. Russell Investments Group Ltd. acquired a new position in shares of Crocs during the third quarter worth approximately $154,000. Finally, Jupiter Wealth Management LLC acquired a new position in shares of Crocs during the third quarter worth approximately $212,000.
In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $35.42, for a total transaction of $243,142,183.90. Insiders own 2.42% of the company’s stock.
Shares of CROX traded up $0.04 on Friday, reaching $35.56. 1,024,200 shares of the company’s stock were exchanged, compared to its average volume of 1,646,168. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $2.43 billion, a P/E ratio of 41.35 and a beta of 1.03. The business has a 50 day moving average price of $31.31 and a two-hundred day moving average price of $25.03. Crocs, Inc. has a 12 month low of $17.52 and a 12 month high of $39.13.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.16. The business had revenue of $312.80 million during the quarter, compared to the consensus estimate of $302.06 million. Crocs had a net margin of 7.49% and a return on equity of 78.24%. Crocs’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities research analysts predict that Crocs, Inc. will post 1.62 EPS for the current year.
A number of equities analysts have recently issued reports on CROX shares. Pivotal Research reiterated a “buy” rating and set a $39.00 target price on shares of Crocs in a research report on Monday, October 28th. BidaskClub raised shares of Crocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Crocs from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research boosted their price target on shares of Crocs to $32.00 in a research note on Wednesday, September 18th. Finally, Piper Jaffray Companies boosted their price target on shares of Crocs from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $34.14.
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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