Cricut (NASDAQ:CRCT) Director Buys $42,058.94 in Stock

Cricut, Inc. (NASDAQ:CRCT) Director Jason Makler bought 9,691 shares of Cricut stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $42,058.94. Following the acquisition, the director directly owned 29,690 shares of the company’s stock, valued at $128,854.60. The trade was a 48.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jason Makler also recently made the following trade(s):

• On Wednesday, May 13th, Jason Makler bought 310 shares of Cricut stock. The stock was purchased at an average price of $4.15 per share, for a total transaction of $1,286.50.

Cricut Stock Performance

Cricut stock traded down $0.32 during midday trading on Wednesday, reaching $3.94. The stock had a trading volume of 583,410 shares, compared to its average volume of 556,478. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $7.33. The stock has a market capitalization of $834.41 million, a PE ratio of 11.26 and a beta of 0.22. The stock’s 50-day simple moving average is $4.20 and its 200 day simple moving average is $4.58.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Cricut had a return on equity of 21.37% and a net margin of 10.36%.The firm had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $164.33 million. Equities analysts predict that Cricut, Inc. will post 0.14 earnings per share for the current fiscal year.

Cricut Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 7th. This represents a yield of 474.0%. Cricut’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Barclays reiterated an “underweight” rating and issued a $4.00 target price on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group restated a “sell” rating and set a $3.75 price objective on shares of Cricut in a research note on Wednesday, May 6th. Finally, UBS Group restated a “cautious” rating on shares of Cricut in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $3.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRCT. Millennium Management LLC lifted its stake in shares of Cricut by 374.5% during the fourth quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock worth $4,863,000 after purchasing an additional 775,330 shares in the last quarter. Algert Global LLC lifted its stake in shares of Cricut by 354.9% during the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock worth $3,873,000 after purchasing an additional 480,364 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after purchasing an additional 467,934 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Cricut by 76.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock worth $5,700,000 after purchasing an additional 392,951 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Cricut by 824.0% during the third quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock worth $2,253,000 after purchasing an additional 319,447 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

About Cricut

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.