Parthenon LLC Grows Position in Clarus Corporation $CLAR

Key Points

• Parthenon LLC increased its stake in Clarus Corporation by 32.8% in Q2, owning 438,137 shares worth approximately $1.52 million.
• Clarus Corporation recently announced a quarterly dividend of $0.025 per share, equating to an annualized yield of 3.0%.
• The current average rating for Clarus stock is "Hold" with an average target price of $4.75, as stated by multiple research firms.

Parthenon LLC raised its position in Clarus Corporation (NASDAQ:CLAR - Free Report) by 32.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,137 shares of the company's stock after purchasing an additional 108,097 shares during the quarter. Parthenon LLC owned 1.14% of Clarus worth $1,520,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Abel Hall LLC purchased a new position in shares of Clarus in the 2nd quarter worth about $37,000. Legacy Capital Group California Inc. raised its holdings in shares of Clarus by 31.3% in the 1st quarter. Legacy Capital Group California Inc. now owns 26,294 shares of the company's stock worth $99,000 after purchasing an additional 6,264 shares during the period. Jane Street Group LLC purchased a new position in shares of Clarus in the 1st quarter worth about $107,000. Gabelli Funds LLC raised its holdings in shares of Clarus by 9.1% in the 1st quarter. Gabelli Funds LLC now owns 60,000 shares of the company's stock worth $225,000 after purchasing an additional 5,000 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Clarus in the 1st quarter worth about $332,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clarus news, Chairman Warren B. Kanders acquired 89,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $3.23 per share, for a total transaction of $287,470.00. Following the purchase, the chairman directly owned 4,444,326 shares in the company, valued at $14,355,172.98. This trade represents a 2.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by company insiders.

Clarus Stock Down 1.5%

Shares of NASDAQ CLAR opened at $3.29 on Friday. Clarus Corporation has a fifty-two week low of $3.02 and a fifty-two week high of $5.29. The business has a 50 day moving average price of $3.56 and a two-hundred day moving average price of $3.48. The firm has a market cap of $126.34 million, a PE ratio of -1.53 and a beta of 0.93.

Clarus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, August 11th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, August 11th. Clarus's dividend payout ratio (DPR) is -4.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CLAR. Lake Street Capital restated a "hold" rating and issued a $3.50 price objective on shares of Clarus in a report on Friday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clarus in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.75.

Clarus Profile

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.

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