Short Interest in Crocs, Inc. (NASDAQ:CROX) Expands By 6.6%

Crocs, Inc. (NASDAQ:CROX) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,628,400 shares, a growth of 6.6% from the July 31st total of 9,034,800 shares. Approximately 15.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,800,000 shares, the days-to-cover ratio is presently 5.3 days.

Shares of NASDAQ CROX traded up $0.09 during trading on Monday, reaching $28.65. The company had a trading volume of 18,410 shares, compared to its average volume of 1,262,506. Crocs has a 52 week low of $17.52 and a 52 week high of $31.88. The stock has a market cap of $1.98 billion, a PE ratio of 33.28, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.22 and a current ratio of 1.74. The business’s 50 day moving average price is $24.08 and its 200-day moving average price is $23.63.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. Crocs had a net margin of 5.61% and a return on equity of 47.15%. The company had revenue of $358.90 million during the quarter, compared to the consensus estimate of $360.46 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that Crocs will post 1.4 earnings per share for the current year.

Several analysts have issued reports on CROX shares. Piper Jaffray Companies upgraded shares of Crocs from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $27.00 in a research report on Monday, July 15th. Pivotal Research reaffirmed a “buy” rating on shares of Crocs in a report on Friday, August 2nd. Susquehanna Bancshares raised their price objective on shares of Crocs from $35.00 to $38.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. CL King raised shares of Crocs from a “neutral” rating to a “buy” rating in a report on Thursday, June 27th. Finally, ValuEngine raised shares of Crocs from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.29.

In related news, Director Doreen A. Wright sold 7,068 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.00, for a total value of $183,768.00. Following the transaction, the director now directly owns 55,680 shares in the company, valued at approximately $1,447,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CROX. Marshall Wace LLP raised its stake in shares of Crocs by 95.0% in the first quarter. Marshall Wace LLP now owns 1,739,464 shares of the textile maker’s stock worth $44,790,000 after acquiring an additional 847,515 shares during the last quarter. Morgan Stanley lifted its stake in Crocs by 911.1% in the second quarter. Morgan Stanley now owns 612,905 shares of the textile maker’s stock valued at $12,105,000 after buying an additional 552,290 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Crocs by 15.4% in the second quarter. Renaissance Technologies LLC now owns 3,855,300 shares of the textile maker’s stock valued at $76,142,000 after buying an additional 513,900 shares in the last quarter. Apertura Capital LLC bought a new position in Crocs in the first quarter valued at approximately $12,875,000. Finally, Nuveen Asset Management LLC bought a new position in Crocs in the second quarter valued at approximately $7,426,000.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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