Private Advisor Group LLC Sells 3,206 Shares of Crocs, Inc. (NASDAQ:CROX)

Private Advisor Group LLC lessened its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 57.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,390 shares of the textile maker’s stock after selling 3,206 shares during the period. Private Advisor Group LLC’s holdings in Crocs were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in Crocs by 541.8% in the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker’s stock worth $37,000 after purchasing an additional 298 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Crocs during the first quarter valued at about $53,000. Ameriflex Group Inc. bought a new stake in shares of Crocs in the fourth quarter valued at about $54,000. Compagnie Lombard Odier SCmA acquired a new stake in Crocs during the first quarter worth about $58,000. Finally, Parallel Advisors LLC grew its position in Crocs by 26.5% during the first quarter. Parallel Advisors LLC now owns 630 shares of the textile maker’s stock worth $67,000 after buying an additional 132 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 2.6%

Shares of NASDAQ:CROX opened at $97.13 on Friday. The company’s fifty day moving average is $103.28 and its 200-day moving average is $102.59. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $151.13. The company has a market capitalization of $5.45 billion, a PE ratio of 5.95, a P/E/G ratio of 2.06 and a beta of 1.41.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.49. The firm had revenue of $937.33 million for the quarter, compared to analyst estimates of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.02 earnings per share. Equities research analysts predict that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price target on Crocs from $88.00 to $87.00 and set a “sell” rating for the company in a report on Tuesday, July 22nd. Needham & Company LLC upped their target price on Crocs from $118.00 to $129.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Stifel Nicolaus reduced their target price on Crocs from $138.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler lowered their price target on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Bank of America dropped their price objective on shares of Crocs from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.00.

Insider Activity at Crocs

In related news, Director Ian Bickley sold 3,044 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the sale, the director directly owned 27,505 shares in the company, valued at $3,187,554.45. This represents a 9.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by insiders.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.