Bank of America Corp DE boosted its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 49.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 359,406 shares of the textile maker’s stock after buying an additional 119,057 shares during the period. Bank of America Corp DE’s holdings in Crocs were worth $2,540,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of CROX. Princeton Alpha Management LP increased its stake in shares of Crocs by 35.0% in the first quarter. Princeton Alpha Management LP now owns 25,731 shares of the textile maker’s stock valued at $182,000 after buying an additional 6,675 shares during the last quarter. Boston Partners increased its stake in shares of Crocs by 27.2% in the first quarter. Boston Partners now owns 670,869 shares of the textile maker’s stock valued at $4,743,000 after buying an additional 143,570 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Crocs during the first quarter valued at $111,000. Great West Life Assurance Co. Can increased its stake in shares of Crocs by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 106,681 shares of the textile maker’s stock valued at $754,000 after buying an additional 7,353 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Crocs by 46.7% in the first quarter. Russell Investments Group Ltd. now owns 168,397 shares of the textile maker’s stock valued at $1,190,000 after buying an additional 53,636 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors and hedge funds.
Crocs, Inc. (NASDAQ:CROX) traded up 5.29% during mid-day trading on Thursday, reaching $8.95. 748,597 shares of the company were exchanged. The company’s 50 day moving average price is $7.72 and its 200-day moving average price is $6.98. The stock’s market capitalization is $663.05 million. Crocs, Inc. has a 12 month low of $5.93 and a 12 month high of $9.50.
Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $313.20 million for the quarter, compared to the consensus estimate of $311.33 million. Crocs had a negative net margin of 1.52% and a negative return on equity of 4.89%. Crocs’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. On average, equities analysts expect that Crocs, Inc. will post ($0.04) earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on CROX. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 target price on shares of Crocs in a report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $8.00 target price (up previously from $7.00) on shares of Crocs in a report on Saturday, July 22nd. BidaskClub downgraded shares of Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. TheStreet raised shares of Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $7.00 target price (up previously from $6.00) on shares of Crocs in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.00.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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