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

Crocs, Inc. (NASDAQ:CROX) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,710,000 shares, an increase of 16.3% from the February 13th total of 5,770,000 shares. Based on an average trading volume of 1,560,000 shares, the short-interest ratio is currently 4.3 days. Approximately 12.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

CROX has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Guggenheim reduced their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays reduced their price objective on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.53.

Insider Buying and Selling

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

Hedge Funds Weigh In On Crocs

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Crocs by 362.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,063 shares of the textile maker’s stock valued at $4,169,000 after acquiring an additional 29,839 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Crocs during the 4th quarter valued at about $3,385,000. Jefferies Financial Group Inc. purchased a new position in Crocs during the 4th quarter valued at about $419,000. Ameriflex Group Inc. purchased a new position in Crocs during the 4th quarter valued at about $54,000. Finally, Jupiter Wealth Management LLC boosted its stake in shares of Crocs by 28.6% during the 4th quarter. Jupiter Wealth Management LLC now owns 8,100 shares of the textile maker’s stock worth $887,000 after purchasing an additional 1,800 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Price Performance

Shares of CROX traded up $3.58 during trading hours on Wednesday, reaching $107.07. The company had a trading volume of 1,315,019 shares, compared to its average volume of 1,348,054. The firm has a 50 day simple moving average of $102.38 and a 200-day simple moving average of $114.24. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 6.70, a PEG ratio of 1.80 and a beta of 1.84. Crocs has a 12-month low of $88.25 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. Research analysts expect that Crocs will post 13.2 earnings per share for the current 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.