Cricut, Inc. (NASDAQ:CRCT – Get Free Report) announced a Semi-Annual dividend on Monday, May 6th, Zacks reports. Investors of record on Tuesday, July 2nd will be paid a dividend of 0.50 per share on Friday, July 19th. This represents a yield of 1.3%. The ex-dividend date is Tuesday, July 2nd.
Cricut has a dividend payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cricut to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 57.1%.
Cricut Price Performance
Shares of NASDAQ:CRCT opened at $5.99 on Friday. Cricut has a 12 month low of $4.43 and a 12 month high of $14.26. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 20.66 and a beta of 0.11. The stock’s 50 day moving average price is $6.32 and its 200 day moving average price is $5.79.
Insiders Place Their Bets
In other news, EVP Donald B. Olsen sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.05, for a total transaction of $176,250.00. Following the transaction, the executive vice president now directly owns 573,918 shares in the company, valued at approximately $4,046,121.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Donald B. Olsen sold 25,000 shares of Cricut stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.05, for a total value of $176,250.00. Following the completion of the sale, the executive vice president now owns 573,918 shares of the company’s stock, valued at approximately $4,046,121.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arora Ashish sold 56,581 shares of Cricut stock in a transaction on Monday, May 13th. The shares were sold at an average price of $7.06, for a total transaction of $399,461.86. Following the completion of the sale, the chief executive officer now directly owns 2,033,839 shares of the company’s stock, valued at approximately $14,358,903.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,847 shares of company stock worth $2,130,703. Corporate insiders own 18.02% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on CRCT shares. The Goldman Sachs Group dropped their price target on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Citigroup dropped their price target on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays dropped their price target on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, March 7th.
Check Out Our Latest Report on Cricut
About Cricut
Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.
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