IAG Wealth Partners LLC Makes New Investment in Crocs, Inc. (NASDAQ:CROX)

IAG Wealth Partners LLC purchased a new stake in Crocs, Inc. (NASDAQ:CROX) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 5,500 shares of the textile maker’s stock, valued at approximately $796,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in Crocs by 17.0% in the first quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after buying an additional 7,448 shares during the period. Boston Partners acquired a new stake in Crocs in the first quarter valued at approximately $10,771,000. Russell Investments Group Ltd. lifted its stake in shares of Crocs by 78.2% in the first quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock valued at $5,053,000 after buying an additional 15,418 shares in the last quarter. Motley Fool Asset Management LLC acquired a new position in Crocs during the 1st quarter valued at about $1,387,000. Finally, Virtu Financial LLC bought a new stake in Crocs during the 2nd quarter worth approximately $3,358,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CROX has been the topic of several analyst reports. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and lifted their target price for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Raymond James downgraded shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group dropped their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Crocs Price Performance

Crocs stock traded down $1.61 during midday trading on Friday, reaching $106.21. 1,880,424 shares of the stock were exchanged, compared to its average volume of 1,612,433. Crocs, Inc. has a 52 week low of $74.00 and a 52 week high of $165.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.95 and a current ratio of 1.43. The firm has a market cap of $6.19 billion, a PE ratio of 7.70, a PEG ratio of 1.09 and a beta of 2.01. The company’s fifty day moving average is $135.60 and its 200-day moving average is $138.11.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.25 earnings per share. On average, sell-side analysts forecast that Crocs, Inc. will post 12.93 EPS for the current year.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle bought 2,240 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director John B. Replogle bought 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

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.