SAC Capital Ups Stake in Crocs, Inc. (CROX)

SAC Capital, managed by Steven Cohen has increased its exposure to Crocs, Inc. (NASDAQ:CROX), according to a filing with the Securities and Exchange Commission. SAC Capital reported ownership of about 4.45 million shares of the company, up from some 1.73 million held at the end of September, as revealed in the fund’s latest 13F. The position amasses 5.0% of the company’s common stock, and is passive by nature.

Crocs, Inc. (NASDAQ:CROX) designs, manufactures and distributes footwear and accessories for men, women and children. Recently, Crocs announced a financial partnership with Blackstone, which has agreed to purchase $200 million of newly issued series A convertible preferred stock (the “Preferred Stock”). Following the investment Crocs plans to conduct a stock repurchase program and buy back $350 million worth of common stock.

Other hedge funds that are holding the shares of Crocs, Inc. (NASDAQ:CROX) are Royce & Associates managed by Chuck Royce which is owning 7.16 million shares worth $97.46 million Another hedge fund, Daruma Asset Management, led by Mariko Gordon holds 4.15 million shares worth $56.45 million.

SAC Capital Advisors is a diversified hedge fund it uses both fundamental and quantitative analysis based approaches. Earlier the fund increased its exposure to Trulia Inc (NYSE:TRLA) from 66,300 shares held at the end of September to 1.94 million shares. SAC Capital Advisors had also raised its stake in Move Inc. (NASDAQ:MOVE) from 1,939 to 1.98 million shares.

SAC Capital Advisors has been particularly keen on Yahoo! Inc. (NASDAQ:YHOO) and holds 7.58 million shares worth $251.31 million. Another stock in which SAC Capital Advisors has raised its exposure is The Walt Disney Company (NYSE:DIS), in which it currently owns 2.67 million shares, worth $172.21 million, the holding increasing by 133% during the third quarter of last year.

Disclosure: none

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