BlackRock Inc. Makes New $1.45 Million Investment in Clarus Corporation $CLAR

Key Points

• BlackRock initiated a $1.45 million position in Clarus, buying 461,553 shares, or approximately 1.2% of the company. Institutional investors collectively own 90.3% of Clarus.
• Analyst sentiment is mixed, with two Buy, three Hold and one Sell rating; the stock has an average rating of Hold and an average price target of $4.06.
• Clarus reported quarterly revenue of $56.16 million and adjusted earnings of $0.18 per share, exceeding analyst expectations. Shares opened at $3.75, while the company also paid a quarterly dividend of $0.025 per share.

BlackRock Inc. bought a new stake in shares of Clarus Corporation (NASDAQ:CLAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 461,553 shares of the company's stock, valued at approximately $1,454,000. BlackRock Inc. owned 1.20% of Clarus as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Clarus by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 702,446 shares of the company's stock valued at $2,354,000 after purchasing an additional 3,611 shares during the period. Barclays PLC raised its stake in shares of Clarus by 11.1% in the fourth quarter. Barclays PLC now owns 46,299 shares of the company's stock valued at $155,000 after buying an additional 4,644 shares during the period. Bank of America Corp DE raised its stake in shares of Clarus by 21.1% in the first quarter. Bank of America Corp DE now owns 34,602 shares of the company's stock valued at $94,000 after buying an additional 6,032 shares during the period. Gabelli Funds LLC lifted its position in shares of Clarus by 16.7% during the 2nd quarter. Gabelli Funds LLC now owns 70,000 shares of the company's stock valued at $243,000 after buying an additional 10,000 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Clarus by 35.4% during the 2nd quarter. Jane Street Group LLC now owns 38,569 shares of the company's stock valued at $134,000 after buying an additional 10,094 shares during the last quarter. Institutional investors own 90.30% of the company's stock.

Analyst Ratings Changes

CLAR has been the subject of a number of research reports. B. Riley Financial increased their target price on shares of Clarus from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Clarus in a research report on Monday, August 31st. Zacks Research cut shares of Clarus from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Roth Capital raised their price objective on shares of Clarus from $2.90 to $3.75 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Clarus from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Clarus has an average rating of "Hold" and an average target price of $4.06.

Clarus Stock Performance

CLAR stock opened at $3.75 on Monday. The firm has a 50 day moving average of $3.47 and a 200-day moving average of $3.11. The firm has a market capitalization of $144.15 million, a P/E ratio of -4.57 and a beta of 1.08. Clarus Corporation has a 12 month low of $2.53 and a 12 month high of $4.03.

Clarus (NASDAQ:CLAR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.25. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. The firm had revenue of $56.16 million for the quarter, compared to analysts' expectations of $51.54 million. Sell-side analysts predict that Clarus Corporation will post 0.26 EPS for the current year.

Clarus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were given a dividend of $0.025 per share. The ex-dividend date was Monday, August 17th. This represents a $0.10 annualized dividend and a dividend yield of 2.7%. Clarus's dividend payout ratio (DPR) is -12.20%.

About Clarus

Clarus Corporation NASDAQ: CLAR is a global designer, manufacturer and marketer of outdoor recreation equipment. The company's portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company's flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.

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