Citigroup Inc. Sells 273,576 Shares of Crocs, Inc. (NASDAQ:CROX)

Citigroup Inc. cut its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 72.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,952 shares of the textile maker’s stock after selling 273,576 shares during the quarter. Citigroup Inc.’s holdings in Crocs were worth $15,053,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. GHP Investment Advisors Inc. increased its stake in Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 180 shares during the last quarter. Financial Management Professionals Inc. increased its stake in Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 224 shares during the last quarter. UMB Bank n.a. increased its stake in Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Crocs by 83.0% in the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Crocs by 109.5% in the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 208 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Susan L. Healy purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $99.70 per share, with a total value of $99,700.00. Following the completion of the purchase, the chief financial officer now owns 22,652 shares in the company, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Replogle purchased 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Crocs Price Performance

Shares of NASDAQ CROX opened at $105.60 on Thursday. Crocs, Inc. has a twelve month low of $85.71 and a twelve month high of $165.32. The firm has a fifty day simple moving average of $123.89 and a 200 day simple moving average of $135.24. The company has a market capitalization of $6.15 billion, a PE ratio of 7.66, a P/E/G ratio of 1.10 and a beta of 2.01. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $3.25 earnings per share. Crocs’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Crocs, Inc. will post 12.93 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Monness Crespi & Hardt decreased their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC began coverage on shares of Crocs in a research report on Friday, November 22nd. They issued a “buy” rating and a $116.00 target price on the stock. Raymond James lowered shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and cut their target price for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Finally, Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.80.

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.