American International Group Inc. Lowers Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

American International Group Inc. lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,666 shares of the textile maker’s stock after selling 1,677 shares during the quarter. American International Group Inc. owned about 0.13% of Crocs worth $11,600,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Crocs in the first quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in Crocs in the first quarter valued at about $25,000. Byrne Asset Management LLC lifted its position in Crocs by 60.0% in the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Blue Trust Inc. lifted its position in Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Finally, Quest Partners LLC acquired a new stake in Crocs in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Price Performance

Shares of CROX traded down $1.92 during mid-day trading on Wednesday, reaching $129.38. 999,508 shares of the company’s stock were exchanged, compared to its average volume of 1,336,769. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The company has a 50-day simple moving average of $146.82 and a two-hundred day simple moving average of $130.14. Crocs, Inc. has a 52-week low of $74.00 and a 52-week high of $165.32. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.48 and a beta of 2.00.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.77. The business had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $2.61 EPS. On average, sell-side analysts predict that Crocs, Inc. will post 12.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wedbush lifted their price target on shares of Crocs from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Barclays lifted their price target on shares of Crocs from $167.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. UBS Group reduced their price target on shares of Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.67.

Insiders Place Their Bets

In other Crocs news, CEO Andrew Rees sold 10,000 shares of Crocs stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $160.15, for a total value of $1,601,500.00. Following the completion of the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the sale, the director now directly owns 115,339 shares of the company’s stock, valued at $16,184,368.48. The disclosure for this sale can be found here. In the last three months, insiders sold 30,178 shares of company stock valued at $4,597,445. Company insiders own 2.72% of the company’s stock.

Crocs Profile

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.