Crown Crafts, Inc. (NASDAQ:CRWS) Sees Large Increase in Short Interest

Crown Crafts, Inc. (NASDAQ:CRWS) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 33,000 shares, an increase of 129.2% from the February 28th total of 14,400 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 17,700 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Crown Crafts by 55.6% during the fourth quarter. Northern Trust Corp now owns 48,518 shares of the textile maker’s stock valued at $218,000 after acquiring an additional 17,330 shares during the period. Geode Capital Management LLC lifted its position in Crown Crafts by 11.8% during the 3rd quarter. Geode Capital Management LLC now owns 94,480 shares of the textile maker’s stock valued at $454,000 after purchasing an additional 9,988 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Crown Crafts by 22.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 106,887 shares of the textile maker’s stock valued at $479,000 after purchasing an additional 19,887 shares during the last quarter. Synovus Financial Corp grew its position in shares of Crown Crafts by 14.7% during the 3rd quarter. Synovus Financial Corp now owns 278,113 shares of the textile maker’s stock worth $1,335,000 after buying an additional 35,565 shares during the period. Finally, De Lisle Partners LLP raised its stake in shares of Crown Crafts by 41.2% during the third quarter. De Lisle Partners LLP now owns 396,326 shares of the textile maker’s stock worth $1,901,000 after buying an additional 115,696 shares during the last quarter. 30.23% of the stock is currently owned by institutional investors.

Crown Crafts Price Performance

CRWS traded down $0.07 during trading on Friday, hitting $3.69. The company’s stock had a trading volume of 18,619 shares, compared to its average volume of 16,997. The company has a quick ratio of 1.60, a current ratio of 3.36 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $38.35 million, a price-to-earnings ratio of 15.38 and a beta of 0.87. The firm’s 50 day moving average price is $4.19 and its two-hundred day moving average price is $4.47. Crown Crafts has a 12 month low of $3.70 and a 12 month high of $5.39.

Crown Crafts (NASDAQ:CRWS) last announced its earnings results on Wednesday, February 12th. The textile maker reported $0.09 earnings per share for the quarter. Crown Crafts had a return on equity of 5.99% and a net margin of 2.81%.

Crown Crafts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend is Friday, March 14th. Crown Crafts’s dividend payout ratio is 133.33%.

About Crown Crafts

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; dolls and plush toys; 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.