Arizona State Retirement System Buys 200 Shares of Crocs, Inc. (CROX)
Arizona State Retirement System raised its stake in Crocs, Inc. (NASDAQ:CROX) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,588 shares of the textile maker’s stock after acquiring an additional 200 shares during the period. Arizona State Retirement System owned approximately 0.05% of Crocs worth $298,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Crocs by 4.1% in the first quarter. Vanguard Group Inc. now owns 6,437,469 shares of the textile maker’s stock worth $45,513,000 after acquiring an additional 253,305 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock worth $18,346,000 after acquiring an additional 220,190 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock worth $15,042,000 after acquiring an additional 737,636 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Crocs by 4.5% in the first quarter. Neuberger Berman Group LLC now owns 1,525,010 shares of the textile maker’s stock worth $10,782,000 after acquiring an additional 65,468 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after acquiring an additional 362,712 shares during the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on CROX shares. BidaskClub raised Crocs from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Stifel Nicolaus reissued a “hold” rating and issued a $8.00 target price (up from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. ValuEngine cut Crocs from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. TheStreet raised Crocs from a “d” rating to a “c-” rating in a research report on Wednesday, June 21st. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $8.00 price objective (up from $7.00) on shares of Crocs in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.60.
Shares of Crocs, Inc. (NASDAQ:CROX) opened at 9.37 on Monday. The stock’s market capitalization is $672.40 million. Crocs, Inc. has a 52-week low of $5.93 and a 52-week high of $9.70. The company’s 50 day moving average price is $8.59 and its 200 day moving average price is $7.28.
Crocs (NASDAQ:CROX) last announced its earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. The firm had revenue of $313.20 million for the quarter, compared to the consensus estimate of $311.33 million. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Crocs, Inc. will post ($0.03) EPS for the current year.
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Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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