Crocs, Inc. (NASDAQ:CROX) Sees Significant Increase in Short Interest

Crocs, Inc. (NASDAQ:CROX) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 8,020,000 shares, a growth of 19.5% from the February 28th total of 6,710,000 shares. Based on an average trading volume of 1,640,000 shares, the days-to-cover ratio is presently 4.9 days. Approximately 14.9% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares of the company’s stock, valued at $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shannon Sisler sold 4,659 shares of Crocs stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the sale, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at $3,215,565.25. This represents a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of CROX. UMB Bank n.a. boosted its position in shares of Crocs by 46.6% in the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock worth $49,000 after purchasing an additional 142 shares in the last quarter. Allianz SE bought a new stake in Crocs in the fourth quarter worth $53,000. Ameriflex Group Inc. bought a new stake in Crocs in the fourth quarter worth $54,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Crocs in the third quarter worth $73,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Crocs by 425.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock valued at $74,000 after acquiring an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Upgrades and Downgrades

CROX has been the subject of several research reports. StockNews.com lowered Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Bank of America increased their target price on shares of Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a report on Friday, February 14th. KeyCorp lowered their price target on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $129.00 price target on shares of Crocs in a research report on Thursday, February 13th. Finally, UBS Group lifted their price objective on Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.53.

Crocs Stock Up 3.0 %

Shares of CROX stock traded up $3.23 during midday trading on Wednesday, reaching $112.37. 563,247 shares of the stock were exchanged, compared to its average volume of 1,667,619. The firm has a market cap of $6.30 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average is $103.02 and its two-hundred day moving average is $112.52. Crocs has a 1 year low of $88.25 and a 1 year high of $165.32.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. On average, equities research analysts predict that Crocs will post 13.2 EPS for the current year.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.