Tyro Capital Management LLC Lowers Stake in Crocs, Inc. (NASDAQ:CROX)

Tyro Capital Management LLC cut its position in Crocs, Inc. (NASDAQ:CROX - Free Report) by 49.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,515 shares of the textile maker's stock after selling 70,624 shares during the quarter. Crocs makes up 3.3% of Tyro Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Tyro Capital Management LLC owned about 0.12% of Crocs worth $10,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. raised its holdings in shares of Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker's stock valued at $33,000 after buying an additional 180 shares during the last quarter. Financial Management Professionals Inc. increased its position in Crocs by 11,200.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker's stock valued at $33,000 after acquiring an additional 224 shares during the period. UMB Bank n.a. raised its stake in Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker's stock valued at $44,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker's stock worth $45,000 after acquiring an additional 142 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of Crocs by 109.5% in the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker's stock valued at $58,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Crocs Price Performance

Shares of Crocs stock traded down $1.22 during trading on Friday, hitting $111.72. 1,095,717 shares of the company were exchanged, compared to its average volume of 1,348,372. Crocs, Inc. has a fifty-two week low of $85.71 and a fifty-two week high of $165.32. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average price of $116.16 and a 200 day moving average price of $132.57. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 earnings per share. On average, equities analysts expect that Crocs, Inc. will post 12.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CROX. Barclays lowered their price objective on shares of Crocs from $164.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Piper Sandler reiterated an "overweight" rating and set a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Williams Trading upgraded shares of Crocs from a "hold" rating to a "buy" rating and raised their price objective for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. KeyCorp dropped their target price on Crocs from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, Loop Capital cut Crocs from a "buy" rating to a "hold" rating and reduced their price target for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $148.80.

Insider Activity

In related news, CFO Susan L. Healy acquired 1,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $99.70 per share, with a total value of $99,700.00. Following the purchase, the chief financial officer now directly owns 22,652 shares in the company, valued at $2,258,404.40. The trade was a 4.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Replogle bought 2,240 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the transaction, the director now directly owns 9,304 shares of the company's stock, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.72% of the company's stock.

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.