Meritage Portfolio Management Has $653,000 Stock Position in Crocs, Inc. (NASDAQ:CROX)

Meritage Portfolio Management increased its stake in Crocs, Inc. (NASDAQ:CROX) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,994 shares of the textile maker’s stock after acquiring an additional 2,297 shares during the quarter. Meritage Portfolio Management’s holdings in Crocs were worth $653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC lifted its holdings in Crocs by 60.0% during the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. Blue Trust Inc. increased its position in shares of Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Crocs during the 4th quarter valued at about $56,000. GAMMA Investing LLC bought a new position in shares of Crocs during the 4th quarter valued at about $78,000. Finally, Mendota Financial Group LLC grew its position in Crocs by 50.6% during the 4th quarter. Mendota Financial Group LLC now owns 810 shares of the textile maker’s stock worth $76,000 after acquiring an additional 272 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John B. Replogle purchased 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the purchase, the director now owns 3,153 shares of the company’s stock, valued at $399,642.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $126.75 per share, with a total value of $249,951.00. Following the purchase, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Michelle Poole sold 5,074 shares of Crocs stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $124.98, for a total transaction of $634,148.52. Following the sale, the president now directly owns 52,966 shares of the company’s stock, valued at approximately $6,619,690.68. The disclosure for this sale can be found here. Insiders have sold 39,867 shares of company stock worth $4,786,276 over the last ninety days. Corporate insiders own 2.69% of the company’s stock.

Wall Street Analyst Weigh In

CROX has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, February 16th. OTR Global raised Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. Bank of America lifted their price objective on Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. UBS Group lifted their target price on Crocs from $117.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.17.

Crocs Stock Up 1.2 %

Shares of NASDAQ:CROX traded up $1.48 on Friday, reaching $124.99. The company had a trading volume of 535,116 shares, compared to its average volume of 1,396,426. Crocs, Inc. has a 52-week low of $74.00 and a 52-week high of $146.79. The firm’s 50 day simple moving average is $128.18 and its 200-day simple moving average is $107.18. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $7.59 billion, a PE ratio of 9.79, a PEG ratio of 1.59 and a beta of 2.01.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, February 15th. The textile maker reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. The business had revenue of $960.10 million during the quarter, compared to analysts’ expectations of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. As a group, analysts expect that Crocs, Inc. will post 12.44 earnings per share for the current fiscal year.

Crocs Company 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.