Redwood Investment Management LLC Purchases New Stake in Crocs, Inc. (NASDAQ:CROX)

Redwood Investment Management LLC purchased a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 10,585 shares of the textile maker’s stock, valued at approximately $1,522,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverwater Partners LLC increased its position in Crocs by 1.0% in the first quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after buying an additional 104 shares during the period. Byrne Asset Management LLC increased its position in Crocs by 60.0% in the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after buying an additional 120 shares during the period. Quadrant Capital Group LLC increased its position in Crocs by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock worth $108,000 after buying an additional 126 shares during the period. Fifth Third Bancorp increased its position in Crocs by 3.2% in the first quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock worth $584,000 after buying an additional 127 shares during the period. Finally, Assetmark Inc. increased its position in Crocs by 1.6% in the fourth quarter. Assetmark Inc. now owns 8,828 shares of the textile maker’s stock worth $825,000 after buying an additional 142 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas J. Smach sold 10,174 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the sale, the director now directly owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Shannon Sisler sold 1,404 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $149.96, for a total transaction of $210,543.84. Following the completion of the sale, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the sale, the director now directly owns 115,339 shares of the company’s stock, valued at $16,184,368.48. The disclosure for this sale can be found here. Insiders sold a total of 30,178 shares of company stock valued at $4,597,445 over the last three months. Insiders own 2.72% of the company’s stock.

Crocs Trading Up 1.3 %

Shares of NASDAQ CROX traded up $1.76 during mid-day trading on Wednesday, hitting $134.37. 2,429,267 shares of the company traded hands, compared to its average volume of 1,355,759. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $165.32. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.47 and a beta of 2.00. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average of $145.90 and a two-hundred day moving average of $131.08.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same period in the prior year, the business posted $2.61 earnings per share. Crocs’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Crocs, Inc. will post 12.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their target price on Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays increased their price target on Crocs from $167.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. B. Riley increased their price target on Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Bank of America increased their price target on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, UBS Group decreased their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crocs has a consensus rating of “Moderate Buy” and a consensus target price of $152.82.

Crocs Company Profile

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.