Great Lakes Advisors LLC Sells 2,983 Shares of Crocs, Inc. (NASDAQ:CROX)

Great Lakes Advisors LLC lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 3.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 76,687 shares of the textile maker’s stock after selling 2,983 shares during the period. Great Lakes Advisors LLC owned approximately 0.13% of Crocs worth $11,192,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CROX. V Square Quantitative Management LLC bought a new position in Crocs during the first quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Crocs during the 1st quarter valued at $25,000. Quest Partners LLC purchased a new position in shares of Crocs in the 4th quarter worth $53,000. Manchester Capital Management LLC grew its holdings in shares of Crocs by 1,673.5% in the fourth quarter. Manchester Capital Management LLC now owns 603 shares of the textile maker’s stock worth $56,000 after acquiring an additional 569 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Crocs by 12.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Transactions at Crocs

In related news, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were 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 directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Anne Mehlman sold 7,150 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 143,075 shares of the company’s stock, valued at approximately $22,750,355.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were 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 directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,744 shares of company stock valued at $4,140,855. 2.72% of the stock is currently owned by corporate insiders.

Crocs Price Performance

NASDAQ:CROX opened at $129.82 on Friday. The business’s 50-day simple moving average is $136.66 and its two-hundred day simple moving average is $136.99. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $165.32. The stock has a market cap of $7.88 billion, a PE ratio of 10.05, a P/E/G ratio of 1.56 and a beta of 2.00. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $3.59 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts forecast that Crocs, Inc. will post 12.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CROX. StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Bank of America increased their price target on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Raymond James cut shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Finally, Wedbush restated an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.27.

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.