Crown Crafts, Inc. (NASDAQ:CRWS) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 25,700 shares, an increase of 93.2% from the July 31st total of 13,300 shares. Based on an average daily trading volume, of 30,000 shares, the short-interest ratio is currently 0.9 days. Currently, 0.3% of the company’s shares are short sold.
CRWS has been the topic of several research reports. Zacks Investment Research upgraded shares of Crown Crafts from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. ValuEngine upgraded shares of Crown Crafts from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 4th.
Shares of NASDAQ CRWS traded down $0.06 during trading on Friday, hitting $5.33. 1,757 shares of the company traded hands, compared to its average volume of 19,161. The business’s fifty day moving average is $5.05 and its 200 day moving average is $4.97. Crown Crafts has a fifty-two week low of $4.01 and a fifty-two week high of $6.15. The firm has a market capitalization of $54.55 million, a price-to-earnings ratio of 10.58 and a beta of 0.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.47 and a current ratio of 3.23.
Crown Crafts (NASDAQ:CRWS) last posted its earnings results on Wednesday, August 14th. The textile maker reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. Crown Crafts had a net margin of 7.59% and a return on equity of 13.54%. The company had revenue of $15.94 million for the quarter, compared to analyst estimates of $15.60 million. On average, analysts predict that Crown Crafts will post 0.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.00%. Crown Crafts’s dividend payout ratio is presently 64.00%.
In other news, insider Nanci Freeman sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $5.18, for a total transaction of $77,700.00. Following the transaction, the insider now owns 157,030 shares in the company, valued at $813,415.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.63% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mid Atlantic Financial Management Inc. ADV acquired a new stake in shares of Crown Crafts in the 1st quarter worth about $68,000. North Star Investment Management Corp. raised its holdings in shares of Crown Crafts by 20.4% in the 2nd quarter. North Star Investment Management Corp. now owns 979,506 shares of the textile maker’s stock worth $4,604,000 after acquiring an additional 166,070 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new stake in Crown Crafts in the 2nd quarter worth about $441,000. Skylands Capital LLC grew its position in Crown Crafts by 34.1% in the 2nd quarter. Skylands Capital LLC now owns 100,588 shares of the textile maker’s stock worth $473,000 after purchasing an additional 25,588 shares in the last quarter. Finally, LSV Asset Management grew its position in Crown Crafts by 4.6% in the 1st quarter. LSV Asset Management now owns 53,864 shares of the textile maker’s stock worth $277,000 after purchasing an additional 2,370 shares in the last quarter. Institutional investors own 33.59% of the company’s stock.
Crown Crafts Company Profile
Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.
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