Cricut (NASDAQ:CRCT) Trading 3.4% Higher After Dividend Announcement

Posted by Defense World Staff on Jun 17th, 2023

Cricut, Inc. (NASDAQ:CRCT – Get Rating)’s share price traded up 3.4% during mid-day trading on Friday after the company announced a dividend. The company traded as high as $15.81 and last traded at $15.59. 117,240 shares traded hands during trading, a decline of 3% from the average session volume of 120,307 shares. The stock had previously closed at $15.08.

The newly announced dividend which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 30th. This is a boost from Cricut’s previous dividend of $0.35.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Citigroup lifted their price target on Cricut from $8.68 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, March 8th. Barclays decreased their price objective on Cricut from $7.00 to $6.00 in a research report on Thursday, May 11th.

Cricut Trading Up 4.4 %

The stock has a market capitalization of $3.45 billion and a price-to-earnings ratio of 75.00. The stock has a 50-day simple moving average of $10.25 and a 200 day simple moving average of $9.78.

Insider Activity

In other news, EVP Donald B. Olsen sold 15,000 shares of Cricut stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $8.95, for a total transaction of $134,250.00. Following the completion of the sale, the executive vice president now directly owns 622,904 shares in the company, valued at approximately $5,574,990.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 18.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS Group AG raised its stake in shares of Cricut by 203.0% in the 3rd quarter. UBS Group AG now owns 3,436 shares of the company’s stock valued at $32,000 after acquiring an additional 2,302 shares in the last quarter. Legal & General Group Plc increased its position in Cricut by 113.2% in the 2nd quarter. Legal & General Group Plc now owns 6,033 shares of the company’s stock worth $37,000 after buying an additional 3,203 shares during the period. Quantbot Technologies LP bought a new position in Cricut in the 2nd quarter worth approximately $38,000. Lazard Asset Management LLC bought a new position in Cricut in the 3rd quarter worth approximately $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Cricut in the 3rd quarter worth approximately $79,000. 9.76% of the stock is owned by institutional investors.

Cricut Company Profile

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Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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.