Short Interest in Crown Crafts, Inc. (NASDAQ:CRWS) Declines By 42.4%

Crown Crafts, Inc. (NASDAQ:CRWS) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 17,112 shares, a decrease of 42.4% from the June 30th total of 29,718 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,300 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Crown Crafts presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Crown Crafts

Several hedge funds have recently bought and sold shares of CRWS. Geode Capital Management LLC grew its stake in Crown Crafts by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 106,739 shares of the textile maker’s stock valued at $296,000 after acquiring an additional 5,717 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Crown Crafts by 3.0% in the third quarter. Bridgeway Capital Management LLC now owns 128,120 shares of the textile maker’s stock worth $373,000 after purchasing an additional 3,688 shares in the last quarter. Mariner LLC acquired a new stake in shares of Crown Crafts during the fourth quarter worth approximately $28,000. Renaissance Technologies LLC boosted its holdings in shares of Crown Crafts by 7.9% during the first quarter. Renaissance Technologies LLC now owns 257,342 shares of the textile maker’s stock worth $663,000 after purchasing an additional 18,800 shares during the period. Finally, Empowered Funds LLC grew its position in Crown Crafts by 8.1% during the first quarter. Empowered Funds LLC now owns 60,915 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 4,567 shares in the last quarter. 30.23% of the stock is owned by hedge funds and other institutional investors.

Crown Crafts Price Performance

NASDAQ:CRWS traded down $0.04 during trading hours on Wednesday, reaching $2.96. 15,963 shares of the company’s stock were exchanged, compared to its average volume of 36,865. The company has a quick ratio of 1.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $31.80 million, a P/E ratio of 16.42 and a beta of 0.65. Crown Crafts has a 12 month low of $2.35 and a 12 month high of $3.17. The business’s 50-day simple moving average is $2.87 and its two-hundred day simple moving average is $2.84.

Crown Crafts (NASDAQ:CRWS) last announced its quarterly earnings data on Wednesday, June 24th. The textile maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). The company had revenue of $22.38 million for the quarter, compared to analyst estimates of $22.30 million. Crown Crafts had a net margin of 2.24% and a return on equity of 4.78%.

Crown Crafts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 10.8%. Crown Crafts’s payout ratio is currently 177.78%.

Crown Crafts Company Profile

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.