NINE MASTS CAPITAL Ltd Reduces Position in Crocs, Inc. (CROX)

NINE MASTS CAPITAL Ltd lessened its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 12.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,700 shares of the textile maker’s stock after selling 2,700 shares during the quarter. NINE MASTS CAPITAL Ltd’s holdings in Crocs were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new stake in Crocs during the 2nd quarter valued at about $137,000. Harvest Fund Management Co. Ltd purchased a new stake in Crocs during the 3rd quarter valued at about $171,000. Pacer Advisors Inc. grew its stake in Crocs by 133.5% during the 3rd quarter. Pacer Advisors Inc. now owns 9,556 shares of the textile maker’s stock valued at $203,000 after acquiring an additional 5,463 shares in the last quarter. Aperio Group LLC purchased a new stake in Crocs during the 2nd quarter valued at about $179,000. Finally, Verition Fund Management LLC purchased a new stake in Crocs during the 3rd quarter valued at about $229,000.

NASDAQ:CROX traded down $0.57 on Friday, hitting $25.74. The stock had a trading volume of 6,481 shares, compared to its average volume of 1,538,416. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -1,296.50, a PEG ratio of 5.25 and a beta of 0.64. Crocs, Inc. has a 1-year low of $10.55 and a 1-year high of $29.80.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, November 8th. The textile maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.09. The company had revenue of $261.10 million for the quarter, compared to analyst estimates of $246.47 million. Crocs had a net margin of 3.08% and a return on equity of 17.27%. Crocs’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) EPS. Sell-side analysts anticipate that Crocs, Inc. will post -0.02 EPS for the current year.

CROX has been the subject of several research reports. BidaskClub raised shares of Crocs from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. Zacks Investment Research cut shares of Crocs from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Piper Jaffray Companies set a $23.00 target price on shares of Crocs and gave the company a “buy” rating in a report on Monday, October 22nd. Pivotal Research set a $25.00 target price on shares of Crocs and gave the company a “buy” rating in a report on Tuesday, November 6th. Finally, UBS Group upgraded shares of Crocs to a “neutral” rating in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.43.

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Crocs Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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Institutional Ownership by Quarter for Crocs (NASDAQ:CROX)

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