Short Interest in Crown Crafts, Inc. (NASDAQ:CRWS) Declines By 42.4%

Crown Crafts, Inc. (NASDAQ:CRWS) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 17,112 shares, a drop of 42.4% from the June 30th total of 29,718 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 52,300 shares, the short-interest ratio is currently 0.3 days.

Crown Crafts Stock Down 1.2%

Shares of Crown Crafts stock traded down $0.04 during midday trading on Wednesday, reaching $2.96. 15,963 shares of the company’s stock traded hands, compared to its average volume of 36,865. The company has a market cap of $31.80 million, a price-to-earnings ratio of 16.42 and a beta of 0.65. The company’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $2.84. Crown Crafts has a 52 week low of $2.35 and a 52 week high of $3.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.53 and a current ratio of 3.58.

Crown Crafts (NASDAQ:CRWS) last issued its quarterly earnings data on Wednesday, June 24th. The textile maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Crown Crafts had a net margin of 2.24% and a return on equity of 4.78%. The company had revenue of $22.38 million during the quarter, compared to the consensus estimate of $22.30 million.

Crown Crafts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend was Thursday, June 11th. Crown Crafts’s dividend payout ratio is currently 177.78%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in Crown Crafts during the 4th quarter worth $477,000. Weinberger Asset Management Inc bought a new stake in Crown Crafts during the fourth quarter valued at about $61,000. Renaissance Technologies LLC grew its position in shares of Crown Crafts by 7.9% in the first quarter. Renaissance Technologies LLC now owns 257,342 shares of the textile maker’s stock valued at $663,000 after purchasing an additional 18,800 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of Crown Crafts in the fourth quarter valued at about $41,000. Finally, XTX Topco Ltd bought a new position in shares of Crown Crafts in the fourth quarter worth about $32,000. Institutional investors own 30.23% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Crown Crafts Company Profile

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.