Nantahala Capital Management buys $13,412,686 stake in Crocs (CROX)

Crocs (CROX) : Nantahala Capital Management scooped up 450,639 additional shares in Crocs during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,555,996 shares of Crocs which is valued at $13,412,686.Crocs makes up approximately 2.10% of Nantahala Capital Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in CROX in the latest quarter, The investment management firm added 671 additional shares and now holds a total of 51,438 shares of Crocs which is valued at $443,396.Profund Advisors boosted its stake in CROX in the latest quarter, The investment management firm added 876 additional shares and now holds a total of 23,690 shares of Crocs which is valued at $204,208. Crocs makes up approx 0.01% of Profund Advisors’s portfolio.Norges Bank reduced its stake in CROX by selling 200,000 shares or 43.79% in the most recent quarter. The Hedge Fund company now holds 256,760 shares of CROX which is valued at $2,213,271. Freestone Capital Holdings sold out all of its stake in CROX during the most recent quarter. The investment firm sold 10,000 shares of CROX which is valued $86,200. Princeton Alpha Management Lp sold out all of its stake in CROX during the most recent quarter. The investment firm sold 23,955 shares of CROX which is valued $199,785.

Crocs opened for trading at $8.35 and hit $8.69 on the upside on Wednesday, eventually ending the session at $8.66, with a gain of 2.97% or 0.25 points. The heightened volatility saw the trading volume jump to 449,628 shares. Company has a market cap of $636 M.

On the company’s financial health, Crocs reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.15. The company had revenue of $323.80 million for the quarter, compared to analysts expectations of $348.04 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on Crocs. Susquehanna Initiated Crocs on Aug 12, 2016 to “Neutral”, Price Target of the shares are set at $9.50.Shares were Reiterated by Monness Crespi & Hardt on Aug 4, 2016 to “Buy” and Lowered the Price Target to $ 11 from a previous price target of $13 .

Crocs Inc. is engaged in the design development manufacturing worldwide marketing and distribution of casual lifestyle footwear apparel and accessories for men women and children. The Company’s products include footwear and accessories. The Company operates four reportable operating segments based on the geographic nature of its operations: Americas Asia Pacific Japan and Europe. The Americas segment consists of product sales in the North and South America geographic regions. The Asia Pacific segment consists of product sales throughout Asia (excluding Japan) Australia New Zealand the Middle East and South Africa. The Japan segment consists of product sales in Japan. The Europe segment consists of product sales throughout Europe and Russia. The Company sells its products in more than 90 countries through domestic and international retailers and distributors and directly to end-user consumers through company-operated retail stores outlets Webstores and kiosks.

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