Quantbot Technologies LP Takes Position in Crocs, Inc. (CROX)
Quantbot Technologies LP acquired a new position in shares of Crocs, Inc. (NASDAQ:CROX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,685 shares of the textile maker’s stock, valued at approximately $290,000. Quantbot Technologies LP owned approximately 0.05% of Crocs at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of CROX. Renaissance Technologies LLC increased its position 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 purchasing an additional 737,636 shares during the last quarter. Vanguard Group Inc. raised its stake in Crocs by 6.4% in the second quarter. Vanguard Group Inc. now owns 6,846,368 shares of the textile maker’s stock valued at $52,787,000 after purchasing an additional 408,899 shares in the last quarter. Morgan Stanley raised its stake in Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after purchasing an additional 362,712 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock valued at $18,346,000 after purchasing an additional 220,190 shares in the last quarter. Finally, GMT Capital Corp purchased a new stake in Crocs in the first quarter valued at approximately $1,510,000. 88.56% of the stock is owned by institutional investors.
Several brokerages have issued reports on CROX. TheStreet upgraded shares of Crocs from a “d” rating to a “c-” rating in a research report on Wednesday, June 21st. BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating and set a $7.00 price objective on shares of Crocs in a research report on Friday, July 14th. Stifel Nicolaus restated a “hold” rating and set a $8.00 price objective (up previously from $7.00) on shares of Crocs in a research report on Saturday, July 22nd. 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 report on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.60.
Crocs, Inc. (NASDAQ:CROX) opened at 9.70 on Tuesday. The firm’s 50-day moving average is $9.16 and its 200-day moving average is $7.58. The company’s market capitalization is $696.08 million. Crocs, Inc. has a 12 month low of $5.93 and a 12 month high of $9.85.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $313.20 million during the quarter, compared to analyst estimates of $311.33 million. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. Equities analysts anticipate that Crocs, Inc. will post ($0.03) EPS for the current fiscal year.
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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