Renaissance Technologies LLC Raises Stake in Crocs, Inc. (CROX)
Renaissance Technologies LLC raised its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 18.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,515,710 shares of the textile maker’s stock after acquiring an additional 388,074 shares during the quarter. Renaissance Technologies LLC owned approximately 3.40% of Crocs worth $19,396,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Alliancebernstein L.P. grew its stake in shares of Crocs by 1.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,115,223 shares of the textile maker’s stock worth $54,858,000 after acquiring an additional 101,085 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Crocs by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,846,368 shares of the textile maker’s stock worth $52,787,000 after acquiring an additional 408,899 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Crocs by 9.3% during the 1st 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 in the last quarter. Morgan Stanley grew its stake in shares of Crocs by 37.6% during the 1st 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Crocs by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,003,918 shares of the textile maker’s stock worth $7,097,000 after acquiring an additional 15,030 shares in the last quarter. 88.56% of the stock is owned by institutional investors.
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Shares of Crocs, Inc. (NASDAQ CROX) opened at 9.49 on Friday. The stock has a 50 day moving average price of $9.30 and a 200 day moving average price of $7.74. Crocs, Inc. has a 12-month low of $5.93 and a 12-month high of $9.99. The firm’s market cap is $681.01 million.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) 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 business had revenue of $313.20 million during the quarter, compared to the consensus estimate of $311.33 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Crocs’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Crocs, Inc. will post ($0.03) earnings per share for the current year.
Several equities analysts have recently weighed in on CROX shares. TheStreet raised shares of Crocs from a “d” rating to a “c-” rating in a research note on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $8.00 price target (up from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. ValuEngine cut shares of Crocs from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $7.00 price target on shares of Crocs in a research note on Friday, July 14th. Finally, BidaskClub downgraded Crocs from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.75.
Crocs Company Profile
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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