MML Investors Services LLC Decreases Position in Crocs, Inc. (NASDAQ:CROX)

MML Investors Services LLC reduced its position in shares of Crocs, Inc. (NASDAQ:CROX) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,092 shares of the textile maker’s stock after selling 269 shares during the period. MML Investors Services LLC’s holdings in Crocs were worth $737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CROX. FMR LLC raised its stake in Crocs by 4.8% in the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after purchasing an additional 406,287 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock valued at $211,372,000 after buying an additional 368,557 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Crocs by 8,437.1% in the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after buying an additional 180,555 shares in the last quarter. Marshall Wace LLP acquired a new stake in Crocs during the second quarter worth about $19,598,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Crocs during the third quarter worth about $17,122,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Price Performance

Crocs stock opened at $111.86 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $113.34 and a 200-day simple moving average of $131.02. The stock has a market cap of $6.52 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98. Crocs, Inc. has a 12-month low of $85.71 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $3.25 EPS. Crocs’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that Crocs, Inc. will post 12.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CROX shares. Piper Sandler restated an “overweight” rating and set a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. KeyCorp dropped their price objective on Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC assumed coverage on shares of Crocs in a research report on Friday, November 22nd. They set a “buy” rating and a $116.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.80.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan L. Healy bought 1,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the transaction, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

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.