Ritholtz Wealth Management Makes New Investment in Cricut, Inc. $CRCT

Ritholtz Wealth Management purchased a new position in shares of Cricut, Inc. (NASDAQ:CRCT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 36,392 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MQS Management LLC acquired a new position in Cricut during the 1st quarter worth approximately $59,000. Vanguard Personalized Indexing Management LLC acquired a new position in Cricut during the 2nd quarter worth approximately $80,000. Copeland Capital Management LLC grew its holdings in Cricut by 16.4% during the 2nd quarter. Copeland Capital Management LLC now owns 13,632 shares of the company’s stock worth $92,000 after acquiring an additional 1,917 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Cricut in the 1st quarter valued at $97,000. Finally, R Squared Ltd boosted its holdings in shares of Cricut by 208.9% in the 1st quarter. R Squared Ltd now owns 19,675 shares of the company’s stock valued at $101,000 after buying an additional 13,305 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Cricut in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group cut shares of Cricut from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.50 to $4.75 in a report on Thursday, October 16th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of $4.18.

Cricut Price Performance

CRCT stock opened at $5.10 on Wednesday. The company has a fifty day moving average price of $5.95 and a 200 day moving average price of $5.77. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 15.45 and a beta of 0.18.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The firm had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. As a group, analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 17,204 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $5.27, for a total transaction of $90,665.08. Following the completion of the transaction, the chief executive officer owned 2,668,146 shares in the company, valued at approximately $14,061,129.42. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 337,826 shares of company stock valued at $1,972,877. 18.02% of the stock is owned by corporate insiders.

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.