Cricut, Inc. (NASDAQ:CRCT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in Cricut, Inc. (NASDAQ:CRCT) by 11.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,040 shares of the company’s stock after selling 5,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cricut were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRCT. CWM LLC boosted its position in shares of Cricut by 150.8% in the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after purchasing an additional 5,835 shares in the last quarter. Lazard Asset Management LLC lifted its position in Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after acquiring an additional 13,645 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Cricut during the 3rd quarter worth about $70,000. Arizona State Retirement System lifted its position in Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after acquiring an additional 2,103 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in Cricut during the 1st quarter worth about $78,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered their price target on Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Insider Buying and Selling

In related news, EVP Donald B. Olsen sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the transaction, the executive vice president now owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. This represents a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.02% of the stock is currently owned by insiders.

Cricut Stock Down 2.3 %

Shares of CRCT opened at $5.05 on Monday. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.04 and a beta of 0.13. The stock’s 50-day moving average price is $6.32 and its 200-day moving average price is $6.22.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The company had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. During the same quarter in the previous year, the company earned $0.08 EPS. As a group, equities analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

The firm also recently declared a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s payout ratio is 71.43%.

Cricut Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.