Oliver Luxxe Assets LLC Makes New Investment in Crocs, Inc. (NASDAQ:CROX)

Oliver Luxxe Assets LLC purchased a new position in Crocs, Inc. (NASDAQ:CROX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,561 shares of the textile maker’s stock, valued at approximately $1,087,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates lifted its stake in shares of Crocs by 235.8% in the 4th quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock valued at $5,466,000 after purchasing an additional 41,091 shares in the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of Crocs by 282.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock valued at $2,226,000 after buying an additional 11,428 shares during the period. Tyro Capital Management LLC purchased a new stake in shares of Crocs during the 4th quarter valued at about $10,481,000. Tealwood Asset Management Inc. purchased a new stake in shares of Crocs during the 4th quarter valued at about $865,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Crocs by 27.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 38,609 shares of the textile maker’s stock valued at $3,407,000 after buying an additional 8,297 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the completion of the sale, the chief executive officer now directly owns 79,748 shares in the company, valued at approximately $12,771,642.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the transaction, the chief executive officer now owns 79,748 shares in the company, valued at approximately $12,771,642.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $140.32, for a total value of $1,427,615.68. Following the transaction, 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 sold 30,178 shares of company stock worth $4,597,445. 2.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CROX. Barclays raised their target price on Crocs from $167.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Williams Trading reiterated 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. Monness Crespi & Hardt raised their target price on Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wedbush raised their target price on Crocs from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Finally, OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.83.

Crocs Price Performance

CROX stock opened at $147.75 on Tuesday. Crocs, Inc. has a 52-week low of $74.00 and a 52-week high of $165.32. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $8.97 billion, a PE ratio of 11.44, a P/E/G ratio of 1.62 and a beta of 1.97. The stock’s 50 day moving average is $144.48 and its two-hundred day moving average is $125.34.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same period in the previous year, the business earned $2.61 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that Crocs, Inc. will post 12.7 earnings per share for the current fiscal 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.