Profit Investment Management LLC Lowers Holdings in Crocs, Inc. (NASDAQ:CROX)

Profit Investment Management LLC trimmed its position in shares of Crocs, Inc. (NASDAQ:CROX) by 42.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,358 shares of the textile maker’s stock after selling 19,254 shares during the period. Crocs makes up approximately 3.0% of Profit Investment Management LLC’s holdings, making the stock its 2nd largest holding. Profit Investment Management LLC’s holdings in Crocs were worth $3,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Crocs by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock valued at $801,346,000 after purchasing an additional 76,460 shares during the period. Pacer Advisors Inc. grew its stake in shares of Crocs by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock valued at $159,235,000 after purchasing an additional 142,944 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Crocs by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after purchasing an additional 11,986 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Crocs by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock worth $115,322,000 after acquiring an additional 89,610 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after acquiring an additional 245,240 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Trading Up 0.8 %

Shares of CROX traded up $1.09 during trading hours on Friday, reaching $137.83. The stock had a trading volume of 76,946 shares, compared to its average volume of 1,282,866. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $165.32. The firm has a 50-day moving average of $136.83 and a 200 day moving average of $138.83. The company has a market cap of $8.18 billion, a P/E ratio of 10.28, a P/E/G ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.59 EPS. On average, sell-side analysts expect that Crocs, Inc. will post 12.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Guggenheim assumed coverage on Crocs in a report on Wednesday. They issued a “buy” rating and a $182.00 target price on the stock. Barclays reduced their target price on Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Raymond James downgraded Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 target price on the stock. in a report on Friday, August 2nd. StockNews.com downgraded Crocs from a “buy” rating to a “hold” rating in a report on Monday. Finally, Williams Trading raised Crocs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Insider Activity

In other news, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the transaction, the director now owns 81,254 shares in the company, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John B. Replogle bought 1,996 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate 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.