Versor Investments LP Takes $215,000 Position in Cricut, Inc. (NASDAQ:CRCT)

Versor Investments LP bought a new stake in Cricut, Inc. (NASDAQ:CRCT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 31,000 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRCT. CWM LLC grew its holdings in shares of Cricut by 150.8% during the second quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after purchasing an additional 5,835 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in Cricut during the 3rd quarter worth approximately $70,000. Arizona State Retirement System increased its position in Cricut by 20.8% during the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after buying an additional 2,103 shares during the period. Lazard Asset Management LLC lifted its stake in Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after buying an additional 13,645 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Cricut in the first quarter valued at approximately $78,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Cricut Stock Down 2.3 %

CRCT opened at $5.05 on Friday. The business has a 50 day moving average price of $6.32 and a two-hundred day moving average price of $6.21. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40. The company has a market cap of $1.09 billion, a PE ratio of 18.04 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter last year, the company earned $0.08 EPS. As a group, sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

The company also recently declared a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the transaction, the executive vice president now owns 655,833 shares in the company, valued at approximately $3,764,481.42. This represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Cricut Profile

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.