ABS Direct Equity Fund LLC Takes $1.87 Million Position in Crocs, Inc. (NASDAQ:CROX)

ABS Direct Equity Fund LLC bought a new position in Crocs, Inc. (NASDAQ:CROX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,000 shares of the textile maker’s stock, valued at approximately $1,868,000. Crocs makes up about 1.8% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CROX. LSV Asset Management raised its holdings in Crocs by 36.5% during the fourth quarter. LSV Asset Management now owns 173,313 shares of the textile maker’s stock valued at $16,189,000 after acquiring an additional 46,300 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in shares of Crocs during the fourth quarter worth about $213,000. New York Life Investment Management LLC lifted its holdings in Crocs by 6.7% in the 4th quarter. New York Life Investment Management LLC now owns 6,912 shares of the textile maker’s stock worth $646,000 after purchasing an additional 435 shares in the last quarter. WIT Partners Advisory Pte. Ltd. bought a new position in Crocs in the 4th quarter worth approximately $266,431,000. Finally, Chase Investment Counsel Corp grew its holdings in Crocs by 27.9% during the 4th quarter. Chase Investment Counsel Corp now owns 11,000 shares of the textile maker’s stock valued at $1,027,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 1.9 %

NASDAQ:CROX traded down $2.42 during midday trading on Friday, reaching $124.28. 1,423,386 shares of the stock traded hands, compared to its average volume of 970,587. The stock has a market capitalization of $7.54 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.57 and a beta of 2.03. Crocs, Inc. has a 12-month low of $74.00 and a 12-month high of $146.79. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. The business has a 50-day moving average of $129.12 and a two-hundred day moving average of $109.00.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company had revenue of $960.10 million during the quarter, compared to analysts’ expectations of $958.39 million. During the same period last year, the business posted $2.65 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Crocs, Inc. will post 12.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CROX shares. Bank of America boosted their target price on Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler increased their target price on Crocs from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. KeyCorp boosted their price target on shares of Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus lifted their price objective on shares of Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Raymond James upped their target price on shares of Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Crocs has a consensus rating of “Moderate Buy” and a consensus target price of $144.64.

Insiders Place Their Bets

In related news, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now owns 219,293 shares in the company, valued at $25,981,834.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Replogle bought 1,972 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is owned by company insiders.

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.