Crown Crafts (NASDAQ:CRWS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Crown Crafts, Inc. (NASDAQ:CRWS) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.84 and traded as high as $3.05. Crown Crafts shares last traded at $3.00, with a volume of 51,563 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Crown Crafts Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 3.58 and a quick ratio of 1.53. The company has a market cap of $32.28 million, a PE ratio of 16.67 and a beta of 0.65. The business has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $2.84.

Crown Crafts (NASDAQ:CRWS) last announced its quarterly earnings results on Wednesday, June 24th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). The company had revenue of $22.38 million during the quarter, compared to analysts’ expectations of $22.30 million. Crown Crafts had a net margin of 2.24% and a return on equity of 4.78%.

Crown Crafts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.32 dividend on an annualized basis and a yield of 10.7%. Crown Crafts’s dividend payout ratio (DPR) is presently 177.78%.

Hedge Funds Weigh In On Crown Crafts

A number of large investors have recently added to or reduced their stakes in CRWS. Bridgeway Capital Management LLC lifted its position in shares of Crown Crafts by 3.0% during the third quarter. Bridgeway Capital Management LLC now owns 128,120 shares of the textile maker’s stock valued at $373,000 after buying an additional 3,688 shares during the last quarter. Empowered Funds LLC grew its position in shares of Crown Crafts by 7.8% in the 4th quarter. Empowered Funds LLC now owns 56,348 shares of the textile maker’s stock worth $156,000 after buying an additional 4,078 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Crown Crafts by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 106,739 shares of the textile maker’s stock worth $296,000 after buying an additional 5,717 shares during the last quarter. Mariner LLC bought a new position in shares of Crown Crafts during the 4th quarter worth approximately $28,000. Finally, Institute for Wealth Management LLC. bought a new position in shares of Crown Crafts during the 4th quarter worth approximately $28,000. 30.23% of the stock is currently owned by institutional investors.

About Crown Crafts

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.