Crown Crafts, Inc. (NASDAQ:CRWS) Sees Large Growth in Short Interest

Crown Crafts, Inc. (NASDAQ:CRWS) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 14,300 shares, an increase of 23.3% from the August 31st total of 11,600 shares. Based on an average daily volume of 20,700 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

Insider Activity at Crown Crafts

In other news, Director Donald R. Ratajczak acquired 10,661 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $4.71 per share, for a total transaction of $50,213.31. Following the purchase, the director now owns 261,164 shares in the company, valued at $1,230,082.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Zenon S. Nie bought 8,085 shares of the stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $37,191.00. Following the acquisition, the director now directly owns 63,306 shares in the company, valued at approximately $291,207.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald R. Ratajczak bought 10,661 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $4.71 per share, for a total transaction of $50,213.31. Following the completion of the acquisition, the director now owns 261,164 shares in the company, valued at $1,230,082.44. The disclosure for this purchase can be found here. Insiders acquired a total of 30,661 shares of company stock worth $143,881 in the last 90 days. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cannon Financial Strategists Inc. acquired a new position in Crown Crafts in the second quarter valued at approximately $103,000. Empowered Funds LLC boosted its position in shares of Crown Crafts by 8.0% during the first quarter. Empowered Funds LLC now owns 37,922 shares of the textile maker’s stock worth $193,000 after buying an additional 2,800 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Crown Crafts by 11.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 87,000 shares of the textile maker’s stock worth $455,000 after buying an additional 9,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Crown Crafts by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 242,640 shares of the textile maker’s stock worth $1,269,000 after buying an additional 3,596 shares during the period. 30.23% of the stock is currently owned by institutional investors and hedge funds.

Crown Crafts Price Performance

Shares of Crown Crafts stock remained flat at $4.81 on Monday. The stock had a trading volume of 827 shares, compared to its average volume of 16,646. The stock has a market cap of $49.60 million, a PE ratio of 9.82 and a beta of 0.85. The stock’s fifty day moving average is $4.81 and its 200-day moving average is $5.01. Crown Crafts has a fifty-two week low of $4.11 and a fifty-two week high of $5.97. The company has a quick ratio of 1.46, a current ratio of 3.89 and a debt-to-equity ratio of 0.03.

Crown Crafts (NASDAQ:CRWS) last released its quarterly earnings data on Wednesday, August 14th. The textile maker reported ($0.03) EPS for the quarter. Crown Crafts had a net margin of 4.85% and a return on equity of 8.30%. The business had revenue of $16.21 million during the quarter.

Crown Crafts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, September 13th. Crown Crafts’s dividend payout ratio is presently 65.31%.

Crown Crafts Company Profile

Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; dolls and plush toys; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.