Short Interest in Crocs, Inc. (NASDAQ:CROX) Grows By 19.5%

Crocs, Inc. (NASDAQ:CROX) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 8,020,000 shares, a growth of 19.5% from the February 28th total of 6,710,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is presently 4.9 days. Currently, 14.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CROX. KeyCorp decreased their target price on Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $129.00 target price on shares of Crocs in a research report on Thursday, February 13th. Guggenheim reduced their price target on shares of Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Barclays lowered their price objective on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Loop Capital upped their target price on Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Crocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.53.

Crocs Stock Down 17.1 %

Shares of CROX traded down $19.03 during trading hours on Thursday, hitting $92.52. The company had a trading volume of 1,269,457 shares, compared to its average volume of 1,389,248. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 1.80 and a beta of 1.84. The firm has a fifty day moving average price of $103.20 and a 200-day moving average price of $112.52. Crocs has a 52-week low of $88.25 and a 52-week high of $165.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, equities research analysts forecast that Crocs will post 13.2 EPS for the current fiscal year.

Insider Activity at Crocs

In related news, EVP Adam Michaels sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at $9,529,870.87. The trade was a 14.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Shannon Sisler sold 4,659 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the transaction, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at $3,215,565.25. The trade was a 13.72 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its position in shares of Crocs by 46.6% during the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after buying an additional 142 shares during the last quarter. Allianz SE purchased a new stake in shares of Crocs during the 4th quarter valued at about $53,000. Ameriflex Group Inc. bought a new stake in shares of Crocs in the fourth quarter worth approximately $54,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Crocs during the third quarter valued at approximately $73,000. Finally, TD Waterhouse Canada Inc. lifted its position in Crocs by 425.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock valued at $74,000 after purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Company 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.