Short Interest in Crocs, Inc. (NASDAQ:CROX) Increases By 9.7%

Crocs, Inc. (NASDAQ:CROX) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 5,420,000 shares, a growth of 9.7% from the May 15th total of 4,940,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 4.6 days. Approximately 9.3% of the shares of the stock are sold short.

Crocs Stock Performance

Shares of CROX stock opened at $159.42 on Wednesday. The firm has a market cap of $9.68 billion, a P/E ratio of 12.34, a PEG ratio of 1.78 and a beta of 1.97. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $161.04. The stock’s 50-day moving average is $138.81 and its two-hundred day moving average is $121.99.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. The business had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 EPS. Analysts predict that Crocs will post 12.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CROX. Wedbush increased their target price on Crocs from $156.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Williams Trading reaffirmed a “hold” rating and set a $125.00 target price (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Bank of America lifted their price target on Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, KeyCorp increased their price objective on Crocs from $130.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.75.

Insiders Place Their Bets

In other news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the transaction, the director now owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Shannon Sisler sold 1,404 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $149.96, for a total value of $210,543.84. Following the transaction, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the sale, the director now owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,178 shares of company stock worth $4,597,445. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CROX. V Square Quantitative Management LLC acquired a new position in shares of Crocs in the first quarter valued at $25,000. Rise Advisors LLC bought a new stake in Crocs during the 1st quarter worth about $25,000. Byrne Asset Management LLC raised its position in Crocs by 60.0% in the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. boosted its holdings in Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 222 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Crocs in the fourth quarter valued at approximately $53,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.