SG Americas Securities LLC Reduces Position in Crocs, Inc. (CROX)

SG Americas Securities LLC decreased its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 76.1% in the first quarter, Holdings Channel reports. The fund owned 21,642 shares of the textile maker’s stock after selling 68,920 shares during the period. SG Americas Securities LLC’s holdings in Crocs were worth $557,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Crocs by 26.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after acquiring an additional 679 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Crocs during the fourth quarter worth $97,000. Meeder Asset Management Inc. boosted its position in shares of Crocs by 1,399.6% during the fourth quarter. Meeder Asset Management Inc. now owns 4,094 shares of the textile maker’s stock worth $107,000 after acquiring an additional 3,821 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Crocs by 121.9% during the fourth quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock worth $123,000 after acquiring an additional 2,595 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Crocs by 152.0% during the fourth quarter. Bank of Montreal Can now owns 5,091 shares of the textile maker’s stock worth $133,000 after acquiring an additional 3,071 shares during the last quarter.

CROX stock opened at $22.55 on Thursday. Crocs, Inc. has a 52 week low of $16.26 and a 52 week high of $31.88. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.21 and a beta of 0.66.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.11. Crocs had a net margin of 4.97% and a return on equity of 35.81%. The business had revenue of $295.95 million during the quarter, compared to analyst estimates of $288.72 million. During the same quarter last year, the business earned $0.15 earnings per share. Crocs’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Crocs, Inc. will post 1.25 EPS for the current fiscal year.

Crocs declared that its board has approved a stock buyback plan on Tuesday, May 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the textile maker to reacquire up to 25.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

A number of equities analysts recently weighed in on CROX shares. BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. ValuEngine lowered shares of Crocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Monness Crespi & Hardt upgraded shares of Crocs from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, February 28th. Piper Jaffray Companies lowered shares of Crocs from an “overweight” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Tuesday, April 23rd. Finally, Zacks Investment Research lowered shares of Crocs from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.96.

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About Crocs

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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