Wealth Enhancement Advisory Services LLC Increases Position in Crocs, Inc. $CROX

Wealth Enhancement Advisory Services LLC raised its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 48.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,002 shares of the textile maker’s stock after acquiring an additional 7,154 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Crocs were worth $1,734,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Crocs by 159.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 746 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 459 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Crocs by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 211,305 shares of the textile maker’s stock valued at $22,441,000 after acquiring an additional 8,331 shares during the period. Truist Financial Corp grew its position in shares of Crocs by 24.3% in the 2nd quarter. Truist Financial Corp now owns 9,899 shares of the textile maker’s stock worth $1,003,000 after buying an additional 1,932 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Crocs during the 2nd quarter valued at about $48,000. Finally, QRG Capital Management Inc. raised its holdings in shares of Crocs by 28.9% in the second quarter. QRG Capital Management Inc. now owns 3,170 shares of the textile maker’s stock worth $321,000 after buying an additional 711 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Stock Performance

NASDAQ:CROX opened at $83.92 on Friday. The stock has a market cap of $4.36 billion, a P/E ratio of 27.34 and a beta of 1.54. The firm has a 50-day moving average of $86.47 and a two-hundred day moving average of $85.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.40 and a quick ratio of 0.83. Crocs, Inc. has a 1-year low of $73.21 and a 1-year high of $122.84.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, October 30th. The textile maker reported $2.92 EPS for the quarter, beating the consensus estimate of $2.36 by $0.56. Crocs had a return on equity of 43.14% and a net margin of 4.48%.The company had revenue of $996.30 million during the quarter, compared to analyst estimates of $960.14 million. During the same period in the prior year, the company earned $3.60 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup cut Crocs to a “negative” rating in a report on Tuesday, October 7th. Bank of America reduced their price target on Crocs from $99.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Crocs in a research note on Friday, December 5th. Zacks Research lowered Crocs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Barclays boosted their target price on Crocs from $81.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Crocs has an average rating of “Hold” and a consensus price target of $99.25.

Insider Activity

In related news, Director John B. Replogle purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $74.50 per share, for a total transaction of $223,500.00. Following the completion of the acquisition, the director owned 18,417 shares in the company, valued at $1,372,066.50. This trade represents a 19.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

About Crocs

Crocs, Inc is a global footwear designer, developer and distributor best known for its lightweight, proprietary Croslite™ foam-clog construction. The company’s product portfolio encompasses a range of styles, including clogs, sandals, slides, boots and sneakers, all featuring the slip-resistant, odor-resistant and cushion-providing qualities of the Croslite material. Crocs distributes its products through an omnichannel network that includes e-commerce platforms, company-owned retail stores, authorized dealers and wholesale partners.

Founded in 2002 by Scott Seamans, Lyndon “Duke” Hanson and George Boedecker Jr., Crocs launched its first clog on the island of Vail, Colorado.