Cricut (NASDAQ:CRCT) Shares Gap Up – Here’s Why

Cricut, Inc. (NASDAQ:CRCT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.10, but opened at $5.24. Cricut shares last traded at $5.24, with a volume of 398 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

Cricut Price Performance

The company has a market cap of $1.13 billion, a price-to-earnings ratio of 18.71 and a beta of 0.13. The business’s fifty day moving average price is $6.24 and its 200 day moving average price is $6.17.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Announces Dividend

The firm also recently declared a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio (DPR) is presently 71.43%.

Insider Transactions at Cricut

In related news, EVP Donald B. Olsen sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the transaction, the executive vice president now owns 655,833 shares in the company, valued at $3,764,481.42. The trade was a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cricut

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Cricut by 42.7% in the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after buying an additional 135,539 shares during the period. Lazard Asset Management LLC increased its stake in Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. Algert Global LLC bought a new stake in Cricut in the second quarter valued at $558,000. Nisa Investment Advisors LLC increased its stake in Cricut by 252,185.7% in the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock valued at $106,000 after purchasing an additional 17,653 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Cricut by 4.9% in the second quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock valued at $2,313,000 after purchasing an additional 17,958 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.