First Manhattan Co. continued to hold its stake in Crown Crafts, Inc. (NASDAQ:CRWS) during the second quarter, Holdings Channel reports. The firm owned 47,495 shares of the textile maker’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Crown Crafts were worth $330,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of CRWS. Goldman Sachs Group Inc. acquired a new stake in Crown Crafts during the first quarter valued at about $154,000. JPMorgan Chase & Co. increased its position in Crown Crafts by 3,825.5% in the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock worth $194,000 after buying an additional 22,953 shares in the last quarter. Nationwide Fund Advisors purchased a new position in Crown Crafts during the first quarter worth about $270,000. LSV Asset Management increased its position in Crown Crafts by 4.4% in the first quarter. LSV Asset Management now owns 47,100 shares of the textile maker’s stock worth $388,000 after buying an additional 1,978 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its position in Crown Crafts by 8.8% in the first quarter. Cutter & CO Brokerage Inc. now owns 61,800 shares of the textile maker’s stock worth $509,000 after buying an additional 5,000 shares in the last quarter. 42.18% of the stock is owned by institutional investors and hedge funds.
Crown Crafts, Inc. (NASDAQ CRWS) opened at 5.50 on Thursday. The firm’s 50-day moving average is $6.08 and its 200-day moving average is $7.29. Crown Crafts, Inc. has a 12-month low of $5.40 and a 12-month high of $10.24. The stock has a market capitalization of $55.31 million, a P/E ratio of 10.00 and a beta of 0.47.
Crown Crafts (NASDAQ:CRWS) last announced its earnings results on Wednesday, June 14th. The textile maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. The firm had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $20.89 million. Crown Crafts had a return on equity of 14.07% and a net margin of 8.45%. Analysts predict that Crown Crafts, Inc. will post $0.52 EPS for the current fiscal year.
CRWS has been the topic of a number of analyst reports. TheStreet downgraded shares of Crown Crafts from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of Crown Crafts from a “hold” rating to a “sell” rating in a report on Friday, June 16th. FBR & Co reaffirmed a “mkt perform” rating and set a $7.00 price objective on shares of Crown Crafts in a report on Tuesday, July 11th. Finally, Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the stock a “buy” rating in a report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Crown Crafts currently has a consensus rating of “Hold” and a consensus price target of $7.81.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc and Hamco, Inc, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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