Marshall Wace LLP boosted its position in shares of Crocs, Inc. (NASDAQ:CROX) by 95.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,739,464 shares of the textile maker’s stock after acquiring an additional 847,515 shares during the quarter. Marshall Wace LLP’s holdings in Crocs were worth $44,790,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in CROX. Oregon Public Employees Retirement Fund acquired a new position in shares of Crocs in the fourth quarter valued at approximately $25,000. Signaturefd LLC acquired a new position in shares of Crocs in the first quarter valued at approximately $29,000. PNC Financial Services Group Inc. increased its holdings in shares of Crocs by 26.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 679 shares during the period. LS Investment Advisors LLC increased its holdings in shares of Crocs by 121.9% in the fourth quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock valued at $123,000 after purchasing an additional 2,595 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Crocs by 24.9% in the first quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 1,019 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crocs stock traded down $0.30 during trading on Friday, reaching $18.79. The company’s stock had a trading volume of 1,860,391 shares, compared to its average volume of 1,930,172. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.95 and a quick ratio of 1.32. Crocs, Inc. has a 12-month low of $16.26 and a 12-month high of $31.88. The company has a market cap of $1.35 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96.
Crocs announced that its board has authorized a share buyback plan on Tuesday, May 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 25.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently issued reports on the company. Piper Jaffray Companies lowered Crocs from an “overweight” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Tuesday, April 23rd. BidaskClub lowered Crocs from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Zacks Investment Research raised Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Thursday, May 9th. ValuEngine lowered Crocs from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Monness Crespi & Hardt raised Crocs from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, February 28th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Crocs has an average rating of “Buy” and a consensus target price of $29.16.
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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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