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

Crocs, Inc. (NASDAQ:CROX) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,340,000 shares, an increase of 5.6% from the October 15th total of 4,110,000 shares. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is currently 3.4 days. Approximately 7.7% of the company’s stock are sold short.

Crocs Stock Performance

Crocs stock traded up $1.42 during midday trading on Tuesday, hitting $97.93. The stock had a trading volume of 1,255,080 shares, compared to its average volume of 1,346,949. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32. The firm’s fifty day moving average is $127.23 and its two-hundred day moving average is $136.57. The company has a market capitalization of $5.71 billion, a PE ratio of 7.12, a P/E/G ratio of 0.99 and a beta of 2.01.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $3.25 earnings per share. On average, research analysts forecast that Crocs will post 12.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and dropped their price objective for the company from $150.00 to $110.00 in a research note on Thursday, November 7th. UBS Group dropped their target price on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Guggenheim cut their price objective on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.14.

Insider Activity at Crocs

In related news, CFO Susan L. Healy purchased 1,000 shares of Crocs stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the acquisition, the chief financial officer now directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Replogle acquired 2,240 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the transaction, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Crocs by 4.8% in the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after purchasing an additional 406,287 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Crocs by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock worth $801,346,000 after acquiring an additional 76,460 shares in the last quarter. State Street Corp boosted its position in shares of Crocs by 0.7% in the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock worth $262,467,000 after buying an additional 13,467 shares during the period. Pacer Advisors Inc. increased its stake in shares of Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after purchasing an additional 368,557 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in Crocs by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after purchasing an additional 11,986 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Company Profile

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.