American International Group Inc. Cuts Position in Crocs, Inc. (NASDAQ:CROX)

American International Group Inc. lessened its holdings in Crocs, Inc. (NASDAQ:CROX) by 5.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,343 shares of the textile maker’s stock after selling 5,044 shares during the quarter. American International Group Inc.’s holdings in Crocs were worth $7,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Byrne Asset Management LLC boosted its stake in shares of 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 buying an additional 120 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Crocs by 185.0% in the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after buying an additional 222 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Crocs in the 4th quarter worth approximately $53,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Crocs in the 4th quarter worth approximately $56,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Crocs by 1,673.5% in the 4th quarter. Manchester Capital Management LLC now owns 603 shares of the textile maker’s stock worth $56,000 after buying an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Transactions at Crocs

In other news, EVP Anne Mehlman sold 7,150 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $159.01, for a total value of $1,136,921.50. Following the transaction, the executive vice president now owns 143,075 shares of the company’s stock, valued at $22,750,355.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Shannon Sisler sold 1,404 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $149.96, for a total value of $210,543.84. Following the completion of the transaction, the executive vice president now directly owns 37,103 shares in the company, valued at $5,563,965.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anne Mehlman sold 7,150 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the completion of the transaction, the executive vice president now owns 143,075 shares of the company’s stock, valued at $22,750,355.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,178 shares of company stock valued at $4,597,445. 2.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CROX. KeyCorp upped their price objective on Crocs from $130.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Wedbush upped their price objective on Crocs from $156.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Stifel Nicolaus upped their price objective on Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Bank of America upped their price objective on Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.75.

Crocs Trading Down 0.2 %

Shares of CROX stock opened at $159.42 on Thursday. The company’s fifty day simple moving average is $140.05 and its two-hundred day simple moving average is $122.62. 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, Inc. has a 1 year low of $74.00 and a 1 year high of $161.04. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.81 and a beta of 1.97.

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

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.