Contrarius Group Holdings Ltd Invests $6.26 Million in Crocs, Inc. (NASDAQ:CROX)

Contrarius Group Holdings Ltd bought a new position in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,143 shares of the textile maker's stock, valued at approximately $6,259,000. Contrarius Group Holdings Ltd owned about 0.10% of Crocs as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CROX. Victory Capital Management Inc. raised its holdings in Crocs by 40.2% in the third quarter. Victory Capital Management Inc. now owns 20,907 shares of the textile maker's stock valued at $3,028,000 after acquiring an additional 5,995 shares in the last quarter. KBC Group NV increased its position in shares of Crocs by 11.9% in the 3rd quarter. KBC Group NV now owns 1,659 shares of the textile maker's stock worth $240,000 after purchasing an additional 177 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Crocs by 17.1% in the 3rd quarter. Natixis Advisors LLC now owns 12,221 shares of the textile maker's stock valued at $1,770,000 after purchasing an additional 1,783 shares in the last quarter. Quest Partners LLC bought a new position in shares of Crocs during the third quarter worth about $905,000. Finally, Pathstone Holdings LLC grew its stake in Crocs by 24.2% in the third quarter. Pathstone Holdings LLC now owns 12,797 shares of the textile maker's stock worth $1,853,000 after purchasing an additional 2,491 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Wall Street Analyst Weigh In

CROX has been the topic of several research reports. Loop Capital upgraded Crocs from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Wednesday, March 12th. KeyCorp dropped their price target on Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Crocs from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Robert W. Baird dropped their target price on shares of Crocs from $180.00 to $150.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Finally, Bank of America lifted their price target on shares of Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Crocs has an average rating of "Moderate Buy" and a consensus price target of $143.53.

Remove Ads

Insider Buying and Selling at Crocs

In related news, EVP Shannon Sisler sold 4,659 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the transaction, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. This trade represents a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam Michaels sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the sale, the executive vice president now directly owns 89,323 shares in the company, valued at approximately $9,529,870.87. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Crocs Stock Performance

CROX traded up $6.33 during trading hours on Monday, hitting $110.92. The company's stock had a trading volume of 1,909,567 shares, compared to its average volume of 1,359,725. The company has a 50-day simple moving average of $102.24 and a 200 day simple moving average of $113.31. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $6.22 billion, a PE ratio of 6.94, a PEG ratio of 1.80 and a beta of 1.84. Crocs, Inc. has a fifty-two week low of $88.25 and a fifty-two week high of $165.32.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. As a group, sell-side analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

Crocs 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.