Virtu Financial LLC Makes New Investment in Crocs, Inc. (NASDAQ:CROX)

Virtu Financial LLC purchased a new position in shares of Crocs, Inc. (NASDAQ:CROX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,012 shares of the textile maker’s stock, valued at approximately $3,358,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of Crocs by 17.0% in the 1st quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock worth $7,292,000 after purchasing an additional 7,448 shares during the period. Alaska Permanent Fund Corp grew its stake in Crocs by 282.2% during the first quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock worth $2,226,000 after purchasing an additional 11,428 shares during the period. Tyro Capital Management LLC acquired a new position in Crocs in the fourth quarter valued at approximately $10,481,000. Boston Partners bought a new position in shares of Crocs during the 1st quarter worth approximately $10,771,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Crocs by 242.1% in the 4th quarter. BNP Paribas Financial Markets now owns 56,494 shares of the textile maker’s stock valued at $5,277,000 after acquiring an additional 39,979 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CROX has been the subject of a number of research analyst reports. Barclays decreased their target price on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. StockNews.com raised shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Raymond James downgraded shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price objective on the stock. in a report on Friday, August 2nd. UBS Group reduced their price objective on shares of Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average target price of $160.27.

Crocs Price Performance

NASDAQ CROX opened at $135.47 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.22 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $165.32. The firm’s 50-day simple moving average is $134.55 and its two-hundred day simple moving average is $137.49.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $3.59 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that Crocs, Inc. will post 12.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John B. Replogle purchased 1,996 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the transaction, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the transaction, the director now directly owns 7,064 shares of the company’s stock, valued at $875,653.44. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

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.