Quantbot Technologies LP Makes New Investment in Cricut, Inc. (NASDAQ:CRCT)

Quantbot Technologies LP bought a new stake in Cricut, Inc. (NASDAQ:CRCT) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 13,414 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRCT. Vanguard Group Inc. raised its position in Cricut by 10.9% during the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after purchasing an additional 360,080 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cricut by 40.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,008 shares of the company’s stock worth $134,000 after buying an additional 8,077 shares in the last quarter. CWM LLC lifted its position in shares of Cricut by 150.8% during the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after buying an additional 5,835 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of Cricut by 95.2% during the 2nd quarter. Simplicity Wealth LLC now owns 31,937 shares of the company’s stock worth $191,000 after buying an additional 15,572 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Cricut by 252,185.7% in the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock valued at $106,000 after buying an additional 17,653 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Cricut Stock Performance

NASDAQ CRCT opened at $5.62 on Friday. The firm’s fifty day moving average price is $6.05 and its two-hundred day moving average price is $6.08. The stock has a market cap of $1.21 billion, a PE ratio of 19.93 and a beta of 0.03. Cricut, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $8.40.

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

Cricut Dividend Announcement

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

Insider Buying and Selling at Cricut

In related news, EVP Donald B. Olsen sold 30,000 shares of Cricut stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.23, for a total value of $156,900.00. Following the transaction, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arora Ashish sold 54,839 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.29, for a total transaction of $290,098.31. Following the transaction, the chief executive officer now owns 3,980,294 shares of the company’s stock, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cricut Company 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.