Oppenheimer & Co. Inc. Lowers Holdings in Crocs, Inc. (NASDAQ:CROX)

Oppenheimer & Co. Inc. cut its holdings in Crocs, Inc. (NASDAQ:CROX) by 27.6% during the second quarter, Holdings Channel reports. The firm owned 10,650 shares of the textile maker’s stock after selling 4,056 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Crocs were worth $1,554,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its holdings in Crocs by 8.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock worth $152,000 after purchasing an additional 85 shares in the last quarter. Riverwater Partners LLC lifted its holdings in Crocs by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after purchasing an additional 104 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Crocs by 1.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock worth $1,036,000 after acquiring an additional 111 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Crocs by 12.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock worth $108,000 after acquiring an additional 126 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Crocs by 1.6% during the 4th quarter. Assetmark Inc. now owns 8,828 shares of the textile maker’s stock worth $825,000 after acquiring an additional 142 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John B. Replogle purchased 1,996 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, with a total value of $247,424.16. Following the transaction, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the transaction, the director now directly owns 81,254 shares in the company, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Crocs Stock Performance

CROX stock opened at $138.43 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $134.55 and its two-hundred day simple moving average is $137.49. Crocs, Inc. has a twelve month low of $74.00 and a twelve month high of $165.32. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.29 and a beta of 2.00.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $3.59 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Analysts predict that Crocs, Inc. will post 12.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group decreased their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Bank of America upped their price objective on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Crocs in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.27.

Crocs 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.