Crocs, Inc. (NASDAQ:CROX) Sees Large Increase in Short Interest

Crocs, Inc. (NASDAQ:CROX) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 8,020,000 shares, an increase of 19.5% from the February 28th total of 6,710,000 shares. Approximately 14.9% of the shares of the company are short sold. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is presently 4.9 days.

Insider Activity

In related news, EVP Shannon Sisler sold 4,659 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the transaction, the executive vice president now directly owns 29,299 shares in the company, valued at approximately $3,215,565.25. This trade represents a 13.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Adam Michaels sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

Several hedge funds have recently modified their holdings of the company. Cerity Partners LLC grew its position in Crocs by 36.6% during the 3rd quarter. Cerity Partners LLC now owns 10,252 shares of the textile maker’s stock worth $1,485,000 after acquiring an additional 2,745 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Crocs by 67.8% in the third quarter. D.A. Davidson & CO. now owns 2,701 shares of the textile maker’s stock worth $391,000 after purchasing an additional 1,091 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crocs by 11.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,443 shares of the textile maker’s stock worth $2,526,000 after purchasing an additional 1,737 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Crocs in the third quarter valued at $4,123,000. Finally, HighTower Advisors LLC raised its holdings in shares of Crocs by 122.8% in the third quarter. HighTower Advisors LLC now owns 17,307 shares of the textile maker’s stock valued at $2,507,000 after buying an additional 9,539 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Price Performance

Crocs stock opened at $95.97 on Friday. The business has a 50 day simple moving average of $103.02 and a 200 day simple moving average of $112.40. Crocs has a one year low of $88.25 and a one year high of $165.32. The company has a market capitalization of $5.38 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, sell-side analysts forecast that Crocs will post 13.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CROX shares. Robert W. Baird cut their price target on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Bank of America boosted their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $129.00 price target on shares of Crocs in a report on Thursday, February 13th. KeyCorp dropped their price objective on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Loop Capital increased their target price on shares of Crocs from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average target price of $144.53.

About Crocs

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.