Crown Crafts, Inc. (NASDAQ:CRWS) Short Interest Down 57.6% in June

Crown Crafts, Inc. (NASDAQ:CRWS) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 18,400 shares, a decline of 57.6% from the May 30th total of 43,400 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 60,000 shares, the days-to-cover ratio is currently 0.3 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management boosted its holdings in Crown Crafts by 4.6% in the 1st quarter. LSV Asset Management now owns 53,864 shares of the textile maker’s stock worth $277,000 after acquiring an additional 2,370 shares during the period. Mid Atlantic Financial Management Inc. ADV purchased a new position in Crown Crafts in the 1st quarter worth approximately $68,000. North Star Investment Management Corp. boosted its holdings in Crown Crafts by 3.1% in the 1st quarter. North Star Investment Management Corp. now owns 813,436 shares of the textile maker’s stock worth $4,197,000 after acquiring an additional 24,157 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Crown Crafts by 375.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,393 shares of the textile maker’s stock worth $1,055,000 after acquiring an additional 154,318 shares during the period. Hedge funds and other institutional investors own 37.54% of the company’s stock.

Separately, ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd.

Shares of NASDAQ:CRWS traded down $0.09 during trading on Thursday, reaching $4.41. 7,900 shares of the stock were exchanged, compared to its average volume of 37,769. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.48 and a current ratio of 5.02. Crown Crafts has a 12-month low of $4.01 and a 12-month high of $6.15. The firm has a market capitalization of $45.54 million, a price-to-earnings ratio of 8.82 and a beta of 0.51. The company has a 50-day moving average price of $4.69.

Crown Crafts (NASDAQ:CRWS) last issued its earnings results on Thursday, June 13th. The textile maker reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The firm had revenue of $21.72 million for the quarter, compared to analysts’ expectations of $20.40 million. Crown Crafts had a return on equity of 12.49% and a net margin of 6.57%. On average, analysts expect that Crown Crafts will post 0.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date was Thursday, June 13th. Crown Crafts’s dividend payout ratio is presently 64.00%.

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; 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.

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