Cricut (NASDAQ:CRCT) Director Acquires $42,058.94 in Stock

Cricut, Inc. (NASDAQ:CRCT) Director Jason Makler acquired 9,691 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $42,058.94. Following the acquisition, the director directly owned 29,690 shares of the company’s stock, valued at $128,854.60. The trade was a 48.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Jason Makler also recently made the following trade(s):

• On Wednesday, May 13th, Jason Makler acquired 310 shares of Cricut stock. The stock was purchased at an average price of $4.15 per share, for a total transaction of $1,286.50.

Cricut Stock Down 2.5%

Shares of Cricut stock opened at $3.93 on Friday. The stock has a market capitalization of $824.91 million, a P/E ratio of 11.23 and a beta of 0.22. The stock has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $4.56. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $7.33.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $159.47 million during the quarter, compared to analysts’ expectations of $164.33 million. Cricut had a return on equity of 21.37% and a net margin of 10.36%. Sell-side analysts anticipate that Cricut, Inc. will post 0.14 earnings per share for the current year.

Cricut Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a yield of 474.0%. Cricut’s dividend payout ratio is presently 57.14%.

Institutional Investors Weigh In On Cricut

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after acquiring an additional 2,620 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Cricut by 57,811.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after acquiring an additional 5,203 shares during the period. Guggenheim Capital LLC bought a new stake in shares of Cricut in the fourth quarter valued at approximately $55,000. Orion Porfolio Solutions LLC bought a new stake in shares of Cricut in the fourth quarter valued at approximately $63,000. Finally, Diversified Trust Co bought a new stake in shares of Cricut in the first quarter valued at approximately $67,000. 19.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRCT. Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Barclays reaffirmed an “underweight” rating and set a $4.00 target price on shares of Cricut in a research report on Wednesday, March 4th. UBS Group reaffirmed a “cautious” rating on shares of Cricut in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $3.75 target price on shares of Cricut in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of $3.88.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.