PNC Financial Services Group Inc. decreased its position in Crocs Inc. (NASDAQ:CROX) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,317 shares of the company’s stock after selling 206 shares during the period. PNC Financial Services Group Inc.’s holdings in Crocs were worth $140,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CROX. Franklin Resources Inc. raised its stake in shares of Crocs by 0.6% in the first quarter. Franklin Resources Inc. now owns 4,939,000 shares of the company’s stock valued at $47,513,000 after buying an additional 28,700 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Crocs by 7.2% in the first quarter. JPMorgan Chase & Co. now owns 4,897,096 shares of the company’s stock valued at $47,110,000 after buying an additional 328,948 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of Crocs by 3.0% in the second quarter. Frontier Capital Management Co. LLC now owns 2,490,800 shares of the company’s stock valued at $28,096,000 after buying an additional 72,942 shares during the period. California Public Employees Retirement System raised its stake in shares of Crocs by 3.8% in the second quarter. California Public Employees Retirement System now owns 404,100 shares of the company’s stock valued at $4,558,000 after buying an additional 14,900 shares during the period. Finally, Landscape Capital Management L.L.C. raised its stake in shares of Crocs by 73.7% in the first quarter. Landscape Capital Management L.L.C. now owns 307,616 shares of the company’s stock valued at $2,959,000 after buying an additional 130,563 shares during the period. Institutional investors own 99.81% of the company’s stock.
Shares of Crocs Inc. (NASDAQ:CROX) traded down 0.82% during midday trading on Friday, hitting $8.50. 325,455 shares of the company traded hands. The stock’s market capitalization is $624.62 million. The company has a 50-day moving average price of $8.52 and a 200-day moving average price of $9.58. Crocs Inc. has a 52 week low of $7.63 and a 52 week high of $12.54.
Crocs (NASDAQ:CROX) last announced its earnings results on Wednesday, August 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.06. Crocs had a negative net margin of 6.31% and a negative return on equity of 16.50%. The business had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $348.46 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that Crocs Inc. will post ($0.03) earnings per share for the current fiscal year.
Several brokerages have commented on CROX. B. Riley restated a “neutral” rating and issued a $10.00 price objective on shares of Crocs in a report on Tuesday, August 2nd. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $8.00 target price (down previously from $10.00) on shares of Crocs in a research note on Thursday, August 4th. Zacks Investment Research downgraded shares of Crocs from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Susquehanna assumed coverage on shares of Crocs in a research note on Friday, August 12th. They set a “neutral” rating and a $9.50 target price for the company. Finally, Monness Crespi & Hardt decreased their target price on shares of Crocs from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $11.00.
In related news, CFO Carrie W. Teffner purchased 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was purchased at an average price of $8.85 per share, with a total value of $66,375.00. Following the completion of the purchase, the chief financial officer now owns 349,188 shares of the company’s stock, valued at approximately $3,090,313.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, across the world marketing and distribution of casual lifestyle footwear and accessories for men, women and children. The Company’s segments include Americas, Asia Pacific and Europe. The Americas segment consists of the product sales in the North and South America geographic regions.
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