Cricut, Inc. (NASDAQ:CRCT – Get Free Report) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $5.07, but opened at $5.39. Cricut shares last traded at $6.08, with a volume of 900,777 shares trading hands.
The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million during the quarter, compared to analyst estimates of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%.
Cricut Cuts Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.10 per share. This represents a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, July 7th. Cricut’s payout ratio is 68.97%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on Cricut
Insider Activity at Cricut
In other Cricut news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $5.59, for a total value of $335,400.00. Following the completion of the sale, the chief executive officer now owns 3,391,635 shares in the company, valued at approximately $18,959,239.65. This represents a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 185,009 shares of company stock valued at $1,040,894. 18.02% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Cricut during the fourth quarter worth approximately $36,000. MQS Management LLC acquired a new position in shares of Cricut during the 1st quarter valued at about $59,000. Copeland Capital Management LLC purchased a new stake in shares of Cricut in the fourth quarter valued at about $63,000. Drive Wealth Management LLC acquired a new stake in Cricut during the fourth quarter worth about $64,000. Finally, Olympiad Research LP purchased a new position in Cricut during the fourth quarter worth about $67,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.
Cricut Trading Up 5.2 %
The firm’s fifty day simple moving average is $5.05 and its two-hundred day simple moving average is $5.52. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.91 and a beta of 0.01.
About Cricut
Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.
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