Stock Traders Buy High Volume of Call Options on Crocs (CROX)

Crocs, Inc. (NASDAQ:CROX) was the target of some unusual options trading on Thursday. Stock investors acquired 4,220 call options on the company. This represents an increase of approximately 1,810% compared to the average volume of 221 call options.

Shares of NASDAQ CROX opened at $27.35 on Friday. Crocs has a one year low of $9.57 and a one year high of $28.20. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -1,367.50, a PEG ratio of 5.27 and a beta of 0.61.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, November 8th. The textile maker reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. Crocs had a return on equity of 13.84% and a net margin of 2.29%. The firm had revenue of $261.10 million for the quarter, compared to the consensus estimate of $246.47 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Crocs will post 0.27 EPS for the current fiscal year.

A number of research analysts have recently weighed in on CROX shares. TheStreet upgraded Crocs from a “c+” rating to a “b” rating in a report on Thursday, August 9th. Pivotal Research reiterated a “buy” rating and set a $21.00 price target on shares of Crocs in a report on Tuesday, August 7th. BidaskClub upgraded Crocs from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Piper Jaffray Companies set a $23.00 price target on Crocs and gave the company a “buy” rating in a report on Monday, October 22nd. Finally, Zacks Investment Research upgraded Crocs from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Crocs presently has an average rating of “Hold” and a consensus price target of $17.14.

In other news, insider Daniel P. Hart sold 20,831 shares of Crocs stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $20.00, for a total transaction of $416,620.00. Following the transaction, the insider now owns 347,706 shares in the company, valued at $6,954,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Smach sold 74,400 shares of Crocs stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $20.14, for a total value of $1,498,416.00. Following the transaction, the director now owns 125,262 shares in the company, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CROX. NumerixS Investment Technologies Inc purchased a new position in Crocs in the second quarter valued at about $137,000. Brown Advisory Inc. purchased a new position in Crocs in the first quarter valued at about $171,000. Harvest Fund Management Co. Ltd purchased a new position in Crocs in the third quarter valued at about $171,000. Aperio Group LLC purchased a new position in Crocs in the second quarter valued at about $179,000. Finally, Amalgamated Bank purchased a new position in Crocs in the second quarter valued at about $195,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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About Crocs

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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