Martingale Asset Management L P Purchases 90,757 Shares of Cricut, Inc. (NASDAQ:CRCT)

Martingale Asset Management L P raised its position in shares of Cricut, Inc. (NASDAQ:CRCT) by 258.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,846 shares of the company’s stock after purchasing an additional 90,757 shares during the quarter. Martingale Asset Management L P owned 0.06% of Cricut worth $872,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cricut by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock valued at $607,000 after buying an additional 5,613 shares in the last quarter. FMR LLC lifted its position in shares of Cricut by 779.4% in the third quarter. FMR LLC now owns 19,840 shares of the company’s stock valued at $137,000 after acquiring an additional 17,584 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Cricut in the third quarter worth about $93,000. Versor Investments LP purchased a new stake in shares of Cricut during the third quarter worth about $215,000. Finally, Net Worth Advisory Group bought a new stake in Cricut during the 3rd quarter valued at approximately $286,000. 19.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group dropped their price target on Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 54,839 shares of Cricut stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the completion of the transaction, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at $21,055,755.26. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.23, for a total transaction of $156,900.00. Following the sale, the executive vice president now owns 625,833 shares in the company, valued at $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is currently owned by company insiders.

Cricut Stock Performance

Shares of NASDAQ CRCT opened at $5.48 on Tuesday. The firm’s fifty day moving average is $6.14 and its two-hundred day moving average is $6.11. Cricut, Inc. has a 52-week low of $4.43 and a 52-week high of $8.40. The company has a market cap of $1.18 billion, a P/E ratio of 19.57 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Dividend Announcement

The firm also recently announced a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $0.50 dividend. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio (DPR) is presently 71.43%.

Cricut Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.