Mirae Asset Global Investments Co. Ltd. Increases Holdings in Crocs, Inc. (NASDAQ:CROX)

Posted by on May 26th, 2023

Mirae Asset Global Investments Co. Ltd. lifted its position in Crocs, Inc. (NASDAQ:CROX – Get Rating) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,231 shares of the textile maker’s stock after purchasing an additional 597 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Crocs were worth $2,844,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CROX. Lindbrook Capital LLC raised its stake in Crocs by 246.4% in the fourth quarter. Lindbrook Capital LLC now owns 239 shares of the textile maker’s stock worth $26,000 after buying an additional 170 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Crocs in the fourth quarter worth approximately $28,000. Quent Capital LLC bought a new position in Crocs in the fourth quarter worth approximately $54,000. Quadrant Capital Group LLC raised its stake in Crocs by 269.0% in the third quarter. Quadrant Capital Group LLC now owns 915 shares of the textile maker’s stock worth $63,000 after buying an additional 667 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Crocs by 38.7% in the fourth quarter. Signaturefd LLC now owns 620 shares of the textile maker’s stock worth $67,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.

Crocs Price Performance

Shares of CROX opened at $104.32 on Friday. The firm has a market capitalization of $6.47 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.61 and a beta of 1.94. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.76 and a quick ratio of 1.01. Crocs, Inc. has a 1-year low of $46.08 and a 1-year high of $151.32. The company’s fifty day moving average price is $123.34 and its 200-day moving average price is $115.08.

Crocs (NASDAQ:CROX – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The textile maker reported $2.61 EPS for the quarter, beating the consensus estimate of $2.15 by $0.46. Crocs had a net margin of 16.33% and a return on equity of 98.41%. The company had revenue of $884.20 million for the quarter, compared to analyst estimates of $857.76 million. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 33.9% on a year-over-year basis. On average, equities research analysts predict that Crocs, Inc. will post 11.53 EPS for the current year.

Insider Buying and Selling at Crocs

In other Crocs news, Director Thomas J. Smach purchased 3,000 shares of the stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $113.15 per share, with a total value of $339,450.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $339,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Thomas J. Smach bought 3,000 shares of the stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $113.15 per share, with a total value of $339,450.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $339,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Rees sold 9,164 shares of the stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $140.02, for a total transaction of $1,283,143.28. Following the sale, the chief executive officer now directly owns 110,584 shares in the company, valued at $15,483,971.68. The disclosure for this sale can be found here. 2.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CROX. StockNews.com began coverage on Crocs in a research report on Thursday, May 18th. They set a “hold” rating on the stock. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a research report on Monday, April 17th. Robert W. Baird upped their price target on Crocs from $175.00 to $185.00 in a research report on Friday, April 28th. TheStreet raised Crocs from a “c+” rating to a “b” rating in a research report on Monday, January 30th. Finally, 500.com reaffirmed a “maintains” rating on shares of Crocs in a research report on Friday, April 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Crocs has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Crocs Profile

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Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale, and distribution of casual footwear and accessories for men, women, and children. It operates through the following segments: North America, Asia Pacific, Europe, Middle East, Africa, and Latin America (EMEALA), and HEYDUDE Brand.

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Institutional Ownership by Quarter for Crocs (NASDAQ:CROX)

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