Key Points
- Director Jason Makler bought 9,691 shares of Cricut on May 12 at an average price of $4.34, a transaction worth about $42,059. After the purchase, he owned 29,690 shares, increasing his stake by 48.46%.
- Cricut reported better-than-expected earnings for its latest quarter, posting $0.10 EPS versus the $0.05 consensus estimate. However, revenue of $159.47 million came in below Wall Street’s $164.33 million forecast.
- Analysts remain cautious on CRCT, with a consensus rating of “Strong Sell” and an average price target of $3.88. The stock opened at $3.94, near its 52-week low of $3.73.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) Director Jason Makler acquired 9,691 shares of Cricut stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $4.34 per share, with a total value of $42,058.94. Following the completion of the acquisition, the director directly owned 29,690 shares of the company's stock, valued at approximately $128,854.60. The trade was a 48.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Jason Makler also recently made the following trade(s):
- On Wednesday, May 13th, Jason Makler purchased 310 shares of Cricut stock. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $1,286.50.
Cricut Stock Performance
Shares of NASDAQ CRCT opened at $3.94 on Thursday. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $7.33. The stock has a market cap of $834.41 million, a price-to-earnings ratio of 11.26 and a beta of 0.22. The firm's 50-day simple moving average is $4.20 and its 200 day simple moving average is $4.57.
Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. Cricut had a net margin of 10.36% and a return on equity of 21.37%. The business had revenue of $159.47 million for the quarter, compared to analysts' expectations of $164.33 million. On average, sell-side analysts predict that Cricut, Inc. will post 0.14 EPS for the current year.
Cricut Announces Dividend
The business also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a yield of 474.0%. Cricut's payout ratio is currently 57.14%.
Wall Street Analyst Weigh In
Several brokerages have commented on CRCT. Weiss Ratings lowered shares of Cricut from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. The Goldman Sachs Group reissued a "sell" rating and issued a $3.75 price target on shares of Cricut in a research report on Wednesday, May 6th. Barclays reissued an "underweight" rating and issued a $4.00 price target on shares of Cricut in a research report on Wednesday, March 4th. Finally, UBS Group reissued a "cautious" rating on shares of Cricut in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Cricut currently has a consensus rating of "Strong Sell" and an average target price of $3.88.
Read Our Latest Research Report on CRCT
Institutional Trading of Cricut
A number of hedge funds and other institutional investors have recently bought and sold shares of CRCT. Millennium Management LLC increased its holdings in Cricut by 374.5% during the 4th quarter. Millennium Management LLC now owns 982,343 shares of the company's stock worth $4,863,000 after acquiring an additional 775,330 shares during the period. Algert Global LLC increased its holdings in Cricut by 354.9% during the 3rd quarter. Algert Global LLC now owns 615,697 shares of the company's stock worth $3,873,000 after acquiring an additional 480,364 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Cricut by 51.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company's stock worth $8,675,000 after acquiring an additional 467,934 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Cricut by 76.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company's stock worth $5,700,000 after acquiring an additional 392,951 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in Cricut by 824.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company's stock worth $2,253,000 after acquiring an additional 319,447 shares during the period. Institutional investors own 19.60% of the company's stock.
About Cricut
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Get Free Report)
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.
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