Crocs Inc’s Newest Appointed Director Stocks Up

In 2002, a shoe brand was established selling footwear made of a revolutionary, multi-suited material called Croslite. This was the start of the brand name Crocs Inc. (CROX:US) which has then become synonymously known for its unique shoe design, aiming to provide comfort, fun, and innovation to people worldwide.

Trading under the ticker symbol CROX, the company is listed on NASDAQ and has a current market cap of almost $7.75 billion.

Director stocks up

On March 14, Crocs Inc. spotted its first case of Insider buying in 2024. 

A director on the company’s Board, John B. Replogle disclosed purchasing up to 1,972 CROX shares. They were bought at a rate of $126.749 per share and amounted to $248,833.

This purchase also marked Replogle’s first insider buying since his appointment to the company’s Board in January 2024.

Before this, he worked in several renowned consumer brands such as Seventh Generation, Burt's Bees, Unilever's Skin Care division, and Diageo. Currently, he holds board positions at two public companies, Grove Collaborative and Wolfspeed. 

2023 Results beat Forecasts

As reported almost a month ago, Crocs' Fourth quarter and full-year 2023 results were noticeably good. CEO Andrew Rees reported that the company had 'capped off by a strong fourth quarter that exceeded expectations across all metrics'. In 2023 the company reached record revenues of almost $4 billion, signifying an 11.5% increase over 2022. The Gross Margin and Operating Margin improved significantly for the full year but the operating margin fell for the fourth quarter.

Furthermore, Crocs experienced significant returns compared to the Zacks S&P 500 composite and its industry peers in the past month. In addition to receiving a Buy rating from Zacks, Crocs ranks among the top 10 companies in the Dow Jones Industry Classification: Footwear.

With a price increase of 36.69% YTD, Crocs is anticipated by analysts to have a long bullish run in 2024.