Crocs, Inc. (NASDAQ:CROX) Sees Large Decline in Short Interest

Crocs, Inc. (NASDAQ:CROX - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 4,230,000 shares, a decrease of 11.5% from the September 15th total of 4,780,000 shares. Currently, 7.4% of the company's stock are short sold. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is currently 3.5 days.

Crocs Stock Performance

NASDAQ:CROX traded up $1.02 during trading hours on Tuesday, reaching $140.45. 910,059 shares of the company's stock were exchanged, compared to its average volume of 1,282,984. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.35 and a beta of 1.99. The company has a 50-day moving average of $137.80 and a 200 day moving average of $138.73. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. Crocs has a 1-year low of $74.00 and a 1-year high of $165.32.

Crocs (NASDAQ:CROX - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping analysts' consensus estimates of $3.59 by $0.42. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. Crocs's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.59 EPS. Research analysts anticipate that Crocs will post 12.88 EPS for the current year.

Insider Buying and Selling

In other Crocs news, Director John B. Replogle bought 1,996 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Crocs news, Director John B. Replogle bought 1,996 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares of the company's stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Crocs

A number of large investors have recently bought and sold shares of CROX. Goldman Sachs Group Inc. raised its position in Crocs by 46.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker's stock worth $71,952,000 after buying an additional 245,240 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Crocs by 8,437.1% in the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker's stock valued at $26,993,000 after purchasing an additional 180,555 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in shares of Crocs in the 1st quarter valued at about $22,720,000. Pacer Advisors Inc. increased its holdings in shares of Crocs by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker's stock valued at $159,235,000 after purchasing an additional 142,944 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Crocs in the 2nd quarter valued at about $19,598,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Analyst Ratings Changes

CROX has been the subject of several analyst reports. KeyCorp boosted their price target on shares of Crocs from $149.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. Piper Sandler reiterated an "overweight" rating and set a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Bank of America boosted their price target on shares of Crocs from $160.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, June 20th. Barclays lowered their target price on shares of Crocs from $169.00 to $164.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Crocs from a "hold" rating to a "buy" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Crocs currently has an average rating of "Moderate Buy" and an average price target of $162.58.

About Crocs

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.