Summit Financial LLC Sells 361 Shares of Crocs, Inc. (NASDAQ:CROX)

Summit Financial LLC reduced its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,494 shares of the textile maker’s stock after selling 361 shares during the quarter. Summit Financial LLC’s holdings in Crocs were worth $326,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Byrne Asset Management LLC grew its position in Crocs by 60.0% during the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after purchasing an additional 222 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Crocs in the fourth quarter worth $56,000. Mendota Financial Group LLC raised its holdings in Crocs by 50.6% during the 4th quarter. Mendota Financial Group LLC now owns 810 shares of the textile maker’s stock valued at $76,000 after buying an additional 272 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Crocs during the 4th quarter valued at $78,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Transactions at Crocs

In related news, Director John B. Replogle purchased 1,972 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $126.75 per share, with a total value of $249,951.00. Following the transaction, the director now directly owns 3,153 shares in the company, valued at $399,642.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crocs news, President Michelle Poole sold 5,074 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $124.98, for a total transaction of $634,148.52. Following the sale, the president now directly owns 52,966 shares in the company, valued at approximately $6,619,690.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Replogle purchased 1,972 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, with a total value of $249,951.00. Following the purchase, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 39,867 shares of company stock valued at $4,786,276. Insiders own 2.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. KeyCorp increased their price objective on Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Wedbush reissued an “outperform” rating and set a $154.00 target price on shares of Crocs in a research note on Friday. UBS Group upped their target price on Crocs from $117.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Finally, Raymond James boosted their price objective on shares of Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.64.

Crocs Trading Down 1.9 %

Shares of NASDAQ CROX opened at $124.28 on Friday. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $146.79. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The firm has a 50-day moving average of $129.12 and a 200 day moving average of $108.85. The stock has a market cap of $7.54 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.60 and a beta of 2.03.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.20. The firm had revenue of $960.10 million during the quarter, compared to analyst estimates of $958.39 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $2.65 earnings per share. As a group, sell-side analysts expect that Crocs, Inc. will post 12.44 EPS for the current fiscal year.

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.