Point72 Asia Singapore Pte. Ltd. Grows Stake in Crocs, Inc. (NASDAQ:CROX)

Point72 Asia Singapore Pte. Ltd. raised its stake in Crocs, Inc. (NASDAQ:CROX) by 274.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,901 shares of the textile maker’s stock after acquiring an additional 4,324 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Crocs were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its stake in Crocs by 55.8% in the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock valued at $5,820,000 after acquiring an additional 14,387 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Crocs by 585.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock valued at $3,526,000 after buying an additional 20,797 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Crocs by 2,775.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock valued at $1,145,000 after buying an additional 7,633 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Crocs during the 3rd quarter valued at approximately $2,024,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Crocs during the 3rd quarter valued at approximately $2,076,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Crocs

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

Analyst Upgrades and Downgrades

CROX has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on shares of Crocs in a research note on Friday, November 22nd. They set a “buy” rating and a $116.00 price target on the stock. Barclays dropped their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. UBS Group dropped their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut shares of Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lowered their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Crocs Price Performance

CROX stock opened at $105.60 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 1.43. Crocs, Inc. has a 52 week low of $85.71 and a 52 week high of $165.32. The firm’s fifty day moving average is $121.89 and its 200 day moving average is $134.50. The firm has a market cap of $6.15 billion, a P/E ratio of 7.66, a P/E/G ratio of 1.07 and a beta of 2.01.

Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating the consensus estimate of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $3.25 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Crocs, Inc. will post 12.93 earnings per share for the current year.

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.