Crown Crafts, Inc. (NASDAQ:CRWS) Short Interest Up 129.2% in March

Crown Crafts, Inc. (NASDAQ:CRWS) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 33,000 shares, an increase of 129.2% from the February 28th total of 14,400 shares. Based on an average daily trading volume, of 17,700 shares, the short-interest ratio is currently 1.9 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Trading of Crown Crafts

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Crown Crafts by 55.6% during the 4th quarter. Northern Trust Corp now owns 48,518 shares of the textile maker’s stock valued at $218,000 after buying an additional 17,330 shares in the last quarter. Geode Capital Management LLC increased its stake in Crown Crafts by 11.8% in the 3rd quarter. Geode Capital Management LLC now owns 94,480 shares of the textile maker’s stock worth $454,000 after buying an additional 9,988 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Crown Crafts by 22.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 106,887 shares of the textile maker’s stock valued at $479,000 after acquiring an additional 19,887 shares during the period. Synovus Financial Corp boosted its stake in shares of Crown Crafts by 14.7% in the third quarter. Synovus Financial Corp now owns 278,113 shares of the textile maker’s stock worth $1,335,000 after acquiring an additional 35,565 shares during the period. Finally, De Lisle Partners LLP grew its position in shares of Crown Crafts by 41.2% during the third quarter. De Lisle Partners LLP now owns 396,326 shares of the textile maker’s stock worth $1,901,000 after purchasing an additional 115,696 shares in the last quarter. 30.23% of the stock is owned by hedge funds and other institutional investors.

Crown Crafts Stock Performance

NASDAQ CRWS traded down $0.07 on Friday, hitting $3.69. 18,619 shares of the company traded hands, compared to its average volume of 16,907. The business’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.47. Crown Crafts has a 52-week low of $3.69 and a 52-week high of $5.39. The company has a current ratio of 3.36, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $38.35 million, a price-to-earnings ratio of 15.38 and a beta of 0.87.

Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings data on Wednesday, February 12th. The textile maker reported $0.09 EPS for the quarter. Crown Crafts had a return on equity of 5.99% and a net margin of 2.81%.

Crown Crafts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend is Friday, March 14th. Crown Crafts’s dividend payout ratio is currently 133.33%.

About Crown Crafts

Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; dolls and plush toys; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.