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

Crocs, Inc. (NASDAQ:CROX) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 8,020,000 shares, an increase of 19.5% from the February 28th total of 6,710,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 14.9% of the company’s stock are short sold.

Crocs Price Performance

CROX traded up $3.23 during trading hours on Wednesday, hitting $112.37. The company’s stock had a trading volume of 563,247 shares, compared to its average volume of 1,667,619. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 1.80 and a beta of 1.84. The business’s 50-day moving average price is $103.02 and its 200-day moving average price is $112.52. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Crocs has a 12 month low of $88.25 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. Sell-side analysts expect that Crocs will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In other Crocs news, EVP Adam Michaels sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon Sisler sold 4,659 shares of Crocs stock in a transaction that occurred 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 completion of the sale, the executive vice president now 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.

Hedge Funds Weigh In On Crocs

Several large investors have recently modified their holdings of CROX. Vanguard Group Inc. raised its stake in shares of Crocs by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock valued at $599,959,000 after acquiring an additional 47,576 shares during the period. Empowered Funds LLC boosted its stake in shares of Crocs by 42.0% during the fourth quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker’s stock valued at $8,450,000 after purchasing an additional 22,809 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Crocs by 129.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker’s stock worth $2,373,000 after purchasing an additional 12,245 shares during the last quarter. Motley Fool Wealth Management LLC purchased a new position in Crocs in the 3rd quarter worth about $9,097,000. Finally, Cinctive Capital Management LP purchased a new stake in Crocs in the 3rd quarter valued at about $4,123,000. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group increased their price target on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Bank of America increased their target price on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Loop Capital raised their price objective on shares of Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Robert W. Baird reduced their target price on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.53.

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.