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

Los Angeles Capital Management LLC lowered its position in shares of Cricut, Inc. (NASDAQ:CRCT) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also made changes to their positions in CRCT. Swiss National Bank raised its holdings in shares of Cricut by 6.8% during the first quarter. Swiss National Bank now owns 72,500 shares of the company’s stock valued at $345,000 after acquiring an additional 4,600 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Cricut in the first quarter valued at approximately $78,000. Vanguard Group Inc. grew its position in shares of Cricut by 10.9% in the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after purchasing an additional 360,080 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Cricut by 40.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,008 shares of the company’s stock valued at $134,000 after purchasing an additional 8,077 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Insider Transactions at Cricut

In other news, EVP Donald B. Olsen sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at $3,764,481.42. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 18.02% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group dropped 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.

Cricut Stock Performance

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

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts forecast that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

The company also recently declared a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

About Cricut

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.