Alliancebernstein L.P. Reported increased Interest in Crocs, Inc
Alliancebernstein L.P. filed with SEC a SC 13G/A form about Crocs, Inc. The form can be accessed here: 000153215516000206. As reported by Alliancebernstein L.P., the filler increased its stake in the stock by 6.34% for 7,401,904 shares. Alliancebernstein L.P. currently owns 10% of the Consumer Discretionary- stock. This ownership filing was filed because activity on February 29, 2016.
The hedge fund with about $431.00 billion looks more positive after reporting such an increase of its Crocs, Inc ownership.
The hedge fund is active investor in the Finance sector. In the manager’s latest 13-F, we saw a few other positions. Its 25% of Alliancebernstein L.P.’s US portfolio.
Crocs, Inc Institutional Sentiment
Latest Security and Exchange filings show 169 investors own Crocs, Inc. The institutional ownership in Q3 2015 is high, at 115.72% of the outstanding shares. This is increased by 6574102 the total institutional shares. 84489855 were the shares owned by these institutional investors. In total 21 funds opened new Crocs, Inc stakes, 58 increased stakes. There were 36 that closed positions and 65 reduced them.
3 managers had the stock in their top Ten. Notable investors are: Tyrian Investments L.P., Royal Capital Management Llc, Nantahala Capital Management Llc..
Westport Asset Management Inc is an institutional investor bullish on Crocs, Inc, owning 105300 shares as of Q3 2015 for 1.18% of its portfolio. Simcoe Capital Management Llc owns 198240 shares or 1.69% of its portfolio. NY Royal Capital Management Llc have 13.36% of their stock portfolio for 385000 shares. Further, Nantahala Capital Management Llc reported stake worth 1.54% of its US stock portfolio. The NY Tyrian Investments Lp owns 2476902 shares. Crocs, Inc is 10.75% of the manager’s US portfolio.
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.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Alliancebernstein L.P. website.
The institutional sentiment decreased to 0.78 in Q3 2015. Its down 0.22, from 1 in 2015Q2. The ratio turned negative, as 36 funds sold all Crocs, Inc. shares owned while 65 reduced positions. 21 funds bought stakes while 58 increased positions. They now own 84.49 million shares or 8.38% more from 77.96 million shares in 2015Q2.
Royal Capital Management Llc holds 13.36% of its portfolio in Crocs, Inc. for 385,000 shares. Tyrian Investments L.P. owns 2.48 million shares or 10.75% of their US portfolio. Moreover, Independence Capital Asset Partners Llc has 2.55% invested in the company for 141,032 shares. The New York-based Simcoe Capital Management Llc has invested 1.69% in the stock. Nantahala Capital Management Llc, a Connecticut-based fund reported 876,906 shares.
About 133,893 shares traded hands. Crocs, Inc. (NASDAQ:CROX) has declined 37.26% since August 3, 2015 and is downtrending. It has underperformed by 31.60% the S&P500.
Out of 9 analysts covering Crocs (NASDAQ:CROX), 3 rate it “Buy”, 0 “Sell”, while 6 “Hold”. This means 33% are positive. $19 is the highest target while $9 is the lowest. The $12 average target is 47.18% above today’s ($9.22) stock price. Crocs was the topic in 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt maintained the stock on November 9 with “Buy” rating. Sterne Agee CRT maintained it with “Buy” rating and $19 target price in an August 14 report. B. Riley & Co maintained the shares of CROX in a report on October 1 with “Neutral” rating. Finally, Stifel Nicolaus maintained the stock with “Buy” rating in an October 1 report.
According to Zacks Investment Research, “Crocs, Inc. is a rapidly growing designer, manufacturer and marketer of footwear for men, women and children under the CROCS brand. All of the Company’s footwear products incorporate its proprietary closed-cell resin material, which the Company believes represents a substantial innovation in footwear comfort and functionality. The Company’s proprietary closed-cell resin, which it refers to as Croslite enables Crocs to produce a soft and lightweight, non-marking, slip and odor-resistant shoe. These unique properties make the Company’s footwear ideal for casual wear, as well as for recreational uses such as boating, hiking, fishing and gardening, and have enabled Crocs to successfully market its products to a broad range of consumers.”
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