Hudson Bay Capital Management LP Invests $1.88 Million in Crocs, Inc. (NASDAQ:CROX)


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Hudson Bay Capital Management LP purchased a new stake in Crocs, Inc. (NASDAQ:CROX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 30,000 shares of the textile maker’s stock, valued at approximately $1,880,000.

Several other hedge funds have also recently bought and sold shares of the stock. Tsfg LLC acquired a new position in Crocs in the fourth quarter worth $31,000. Vantage Consulting Group Inc acquired a new stake in Crocs during the fourth quarter worth about $33,000. Archer Investment Corp bought a new position in Crocs in the fourth quarter worth about $39,000. Optimum Investment Advisors acquired a new position in Crocs in the fourth quarter valued at approximately $47,000. Finally, Neo Ivy Capital Management bought a new position in shares of Crocs during the third quarter valued at approximately $68,000. 95.34% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CROX opened at $81.73 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $78.95 and its 200 day moving average price is $65.52. Crocs, Inc. has a 52-week low of $18.11 and a 52-week high of $86.40. The firm has a market cap of $5.35 billion, a P/E ratio of 37.32, a PEG ratio of 1.35 and a beta of 1.77.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Monday, February 22nd. The textile maker reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.27. The company had revenue of $411.50 million during the quarter, compared to analyst estimates of $408.71 million. Crocs had a net margin of 12.08% and a return on equity of 102.93%. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Sell-side analysts expect that Crocs, Inc. will post 2.93 EPS for the current year.

Several equities research analysts have weighed in on CROX shares. B. Riley reaffirmed a “buy” rating and issued a $93.00 target price (up from $87.00) on shares of Crocs in a research report on Wednesday, February 24th. Pivotal Research increased their price objective on shares of Crocs from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Piper Sandler boosted their target price on shares of Crocs from $71.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, January 12th. Stifel Nicolaus boosted their price target on Crocs from $56.00 to $76.00 and gave the stock a “hold” rating in a research report on Tuesday, January 12th. Finally, Loop Capital raised their price target on Crocs from $75.00 to $90.00 in a report on Tuesday, January 19th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Crocs has an average rating of “Buy” and a consensus target price of $78.70.

In other news, CEO Andrew Rees sold 34,900 shares of the company’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $72.10, for a total transaction of $2,516,290.00. Following the completion of the sale, the chief executive officer now directly owns 849,848 shares of the company’s stock, valued at $61,274,040.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ian Bickley sold 10,000 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $82.31, for a total value of $823,100.00. Following the completion of the transaction, the director now owns 62,116 shares of the company’s stock, valued at approximately $5,112,767.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,916 shares of company stock valued at $7,459,015. Company insiders own 2.32% of the company’s stock.

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. It offers various footwear products, including sandals, wedges, flips, slides clogs, charms, and shoes under the Crocs brand name.

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Institutional Ownership by Quarter for Crocs (NASDAQ:CROX)

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