Copeland Capital Management LLC Grows Stock Holdings in Cricut, Inc. $CRCT

Copeland Capital Management LLC raised its position in shares of Cricut, Inc. (NASDAQ:CRCT) by 16.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,632 shares of the company’s stock after buying an additional 1,917 shares during the period. Copeland Capital Management LLC’s holdings in Cricut were worth $92,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRCT. Ascent Group LLC acquired a new position in shares of Cricut during the first quarter valued at about $218,000. Bank of New York Mellon Corp increased its holdings in shares of Cricut by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock valued at $2,502,000 after acquiring an additional 9,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cricut by 22.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 136,475 shares of the company’s stock valued at $703,000 after acquiring an additional 25,330 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Cricut by 94.2% during the first quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company’s stock valued at $206,000 after acquiring an additional 19,400 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Cricut by 6.3% during the first quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock valued at $288,000 after acquiring an additional 3,326 shares in the last quarter. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRCT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Cricut from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Cricut in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $4.52.

Insider Buying and Selling

In other news, insider Ryan Harmer sold 18,771 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $5.70, for a total transaction of $106,994.70. Following the sale, the insider owned 334,951 shares of the company’s stock, valued at $1,909,220.70. This trade represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $6.42, for a total transaction of $136,425.00. Following the sale, the chief executive officer directly owned 2,781,561 shares in the company, valued at $17,857,621.62. The trade was a 0.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 401,650 shares of company stock worth $2,390,480 in the last ninety days. Corporate insiders own 18.61% of the company’s stock.

Cricut Trading Down 5.5%

CRCT opened at $5.97 on Friday. Cricut, Inc. has a 12-month low of $3.94 and a 12-month high of $7.33. The firm has a market capitalization of $1.27 billion, a PE ratio of 18.09 and a beta of 0.18. The firm has a 50 day moving average of $5.91 and a two-hundred day moving average of $5.75.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $158.59 million. As a group, analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.