Crocs, Inc. (NASDAQ:CROX) Position Increased by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC increased its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 66.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the textile maker’s stock after buying an additional 5,000 shares during the quarter. Crocs comprises approximately 2.0% of ABS Direct Equity Fund LLC’s holdings, making the stock its 18th largest position. ABS Direct Equity Fund LLC’s holdings in Crocs were worth $1,810,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. M&T Bank Corp increased its stake in shares of Crocs by 4.3% in the third quarter. M&T Bank Corp now owns 5,601 shares of the textile maker’s stock valued at $811,000 after purchasing an additional 233 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Crocs by 47.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 82,123 shares of the textile maker’s stock worth $11,856,000 after buying an additional 26,453 shares in the last quarter. State Street Corp increased its position in Crocs by 0.7% in the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after acquiring an additional 13,467 shares during the period. Stifel Financial Corp raised its stake in Crocs by 5.0% during the 3rd quarter. Stifel Financial Corp now owns 10,994 shares of the textile maker’s stock valued at $1,592,000 after acquiring an additional 523 shares in the last quarter. Finally, Quarry LP acquired a new position in Crocs during the 3rd quarter worth $104,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle acquired 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the purchase, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan L. Healy bought 1,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $99.70 per share, for a total transaction of $99,700.00. Following the purchase, the chief financial officer now owns 22,652 shares in the company, valued at approximately $2,258,404.40. This represents a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Crocs Trading Up 0.8 %

NASDAQ:CROX opened at $110.59 on Tuesday. The stock has a fifty day simple moving average of $117.81 and a 200 day simple moving average of $133.11. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.98. Crocs, Inc. has a 1-year low of $85.71 and a 1-year high of $165.32.

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

Wall Street Analysts Forecast Growth

CROX has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and set a $155.00 price target on shares of Crocs in a report on Friday. KeyCorp lowered their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $170.00 price target on shares of Crocs in a research report on Friday, August 23rd. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Monness Crespi & Hardt dropped their target price on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.80.

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.