Cricut, Inc. $CRCT Stake Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in Cricut, Inc. (NASDAQ:CRCT) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,992 shares of the company’s stock after selling 12,484 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cricut were worth $643,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CRCT. Bank of New York Mellon Corp lifted its position in shares of Cricut by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock worth $2,502,000 after buying an additional 9,300 shares during the last quarter. MQS Management LLC acquired a new stake in Cricut during the first quarter worth about $59,000. Hussman Strategic Advisors Inc. acquired a new position in Cricut in the first quarter valued at approximately $541,000. Allianz Asset Management GmbH grew its holdings in shares of Cricut by 94.2% during the first quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company’s stock valued at $206,000 after purchasing an additional 19,400 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Cricut during the first quarter valued at approximately $97,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRCT has been the subject of a number of analyst reports. Wall Street Zen lowered Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. The Goldman Sachs Group downgraded shares of Cricut from a “neutral” rating to a “sell” rating and reduced their price target for the company from $5.50 to $4.75 in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cricut in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average target price of $4.18.

Cricut Stock Performance

NASDAQ:CRCT opened at $4.77 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 12.55 and a beta of 0.17. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33. The business has a fifty day moving average of $5.79 and a 200-day moving average of $5.83.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $170.40 million for the quarter, compared to analysts’ expectations of $156.93 million. Cricut had a net margin of 11.31% and a return on equity of 19.91%. On average, equities research analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 6th will be given a dividend of $0.10 per share. This represents a dividend yield of 399.0%. The ex-dividend date is Tuesday, January 6th. Cricut’s payout ratio is 52.63%.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 17,204 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $5.27, for a total value of $90,665.08. Following the completion of the transaction, the chief executive officer directly owned 2,668,146 shares in the company, valued at $14,061,129.42. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 284,516 shares of company stock valued at $1,669,672. Corporate insiders own 18.61% of the company’s stock.

Cricut Company Profile

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.