Cricut (NASDAQ:CRCT) Trading Down 3% – What’s Next?

Cricut, Inc. (NASDAQ:CRCT)’s stock price was down 3% during trading on Friday . The company traded as low as $5.87 and last traded at $5.87. Approximately 111,866 shares were traded during trading, a decline of 83% from the average daily volume of 661,403 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lowered their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Cricut Trading Down 0.8 %

The company has a market cap of $1.29 billion, a price-to-earnings ratio of 21.43 and a beta of 0.03. The business’s 50 day moving average price is $5.95 and its 200-day moving average price is $6.06.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The firm had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. During the same period in the prior year, the business posted $0.08 EPS. Equities research analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Dividend Announcement

The firm also recently announced a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is presently 71.43%.

Insider Buying and Selling

In other news, CEO Arora Ashish sold 54,839 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the completion of the transaction, the chief executive officer now directly owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the sale, the executive vice president now owns 625,833 shares in the company, valued at $3,273,106.59. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,049 shares of company stock valued at $939,242 over the last 90 days. 18.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cricut

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Cricut by 42.7% in the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after purchasing an additional 135,539 shares during the last quarter. Algert Global LLC bought a new position in Cricut in the 2nd quarter valued at approximately $558,000. Nisa Investment Advisors LLC grew its holdings in Cricut by 252,185.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock worth $106,000 after acquiring an additional 17,653 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Cricut by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock valued at $2,313,000 after buying an additional 17,958 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Cricut by 7.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 268,926 shares of the company’s stock valued at $1,611,000 after purchasing an additional 17,898 shares in the last quarter. 19.60% of the stock is owned by institutional investors.

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.