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

Contrarius Group Holdings Ltd bought a new stake in Crocs, Inc. (NASDAQ:CROX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,143 shares of the textile maker’s stock, valued at approximately $6,259,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its holdings in shares of Crocs by 6,686.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,968 shares of the textile maker’s stock valued at $215,000 after purchasing an additional 1,939 shares during the last quarter. Xponance Inc. increased its holdings in Crocs by 5.5% during the fourth quarter. Xponance Inc. now owns 9,372 shares of the textile maker’s stock worth $1,027,000 after buying an additional 492 shares during the last quarter. Boston Partners increased its holdings in Crocs by 24.8% during the fourth quarter. Boston Partners now owns 59,808 shares of the textile maker’s stock worth $6,548,000 after buying an additional 11,889 shares during the last quarter. Intech Investment Management LLC increased its holdings in Crocs by 194.5% during the fourth quarter. Intech Investment Management LLC now owns 30,944 shares of the textile maker’s stock worth $3,389,000 after buying an additional 20,435 shares during the last quarter. Finally, Kennondale Capital Management LLC purchased a new stake in Crocs during the fourth quarter worth about $833,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling at Crocs

In other Crocs news, EVP Adam Michaels sold 15,000 shares of Crocs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the completion of the sale, the executive vice president now directly owns 89,323 shares in the company, valued at $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Shannon Sisler sold 4,659 shares of Crocs 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 sale, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. The trade was a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Loop Capital upgraded shares of Crocs from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Wednesday, March 12th. KeyCorp decreased their price objective on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Robert W. Baird decreased their price objective on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.53.

Crocs Price Performance

CROX stock opened at $106.98 on Thursday. The firm has a 50 day moving average of $102.33 and a 200-day moving average of $114.19. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Crocs, Inc. has a 12 month low of $88.25 and a 12 month high of $165.32. The firm has a market capitalization of $6.00 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84.

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

Crocs Company 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.