BNP Paribas Arbitrage SA boosted its stake in Crocs, Inc. (NASDAQ:CROX) by 173.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,562 shares of the textile maker’s stock after buying an additional 11,150 shares during the period. BNP Paribas Arbitrage SA’s holdings in Crocs were worth $452,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Zacks Investment Management bought a new position in shares of Crocs in the 4th quarter worth about $511,000. OmniStar Financial Group Inc. bought a new position in shares of Crocs in the 1st quarter worth about $219,000. Oregon Public Employees Retirement Fund bought a new position in shares of Crocs in the 4th quarter worth about $660,000. Bank of New York Mellon Corp raised its position in shares of Crocs by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 840,984 shares of the textile maker’s stock worth $17,905,000 after acquiring an additional 6,454 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Crocs by 21.1% in the 4th quarter. KBC Group NV now owns 197,363 shares of the textile maker’s stock worth $5,128,000 after acquiring an additional 34,329 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Crocs stock traded up $0.18 during trading on Friday, hitting $19.45. The stock had a trading volume of 2,315,281 shares, compared to its average volume of 2,190,404. Crocs, Inc. has a 1 year low of $16.26 and a 1 year high of $31.88. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 2.77. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.04 and a beta of 0.96.
Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.25 by $0.11. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The business had revenue of $295.95 million for the quarter, compared to the consensus estimate of $288.72 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. Crocs’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Crocs, Inc. will post 1.25 earnings per share for the current fiscal year.
Crocs announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 25.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
CROX has been the subject of a number of research analyst reports. BidaskClub lowered Crocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 14th. ValuEngine lowered Crocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Monness Crespi & Hardt upgraded Crocs from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Thursday, February 28th. TheStreet downgraded Crocs from a “b-” rating to a “c-” rating in a research note on Wednesday, March 20th. Finally, Zacks Investment Research downgraded Crocs from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Crocs currently has an average rating of “Buy” and a consensus price target of $30.96.
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Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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