Parthenon LLC Increases Stock Position in Clarus Corporation (NASDAQ:CLAR)

Parthenon LLC boosted its stake in Clarus Corporation (NASDAQ:CLAR - Free Report) by 394.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,040 shares of the company's stock after purchasing an additional 263,260 shares during the quarter. Parthenon LLC owned about 0.86% of Clarus worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC purchased a new position in shares of Clarus during the fourth quarter worth approximately $64,000. Envestnet Asset Management Inc. grew its holdings in shares of Clarus by 38.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,864 shares of the company's stock worth $72,000 after purchasing an additional 4,371 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Clarus by 26.6% in the fourth quarter. Wells Fargo & Company MN now owns 18,119 shares of the company's stock worth $82,000 after purchasing an additional 3,810 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Clarus by 25.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,123 shares of the company's stock worth $100,000 after purchasing an additional 4,453 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Clarus by 58.4% in the fourth quarter. LPL Financial LLC now owns 29,724 shares of the company's stock worth $134,000 after purchasing an additional 10,955 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Clarus Stock Down 1.4%

Clarus stock opened at $3.59 on Tuesday. The business has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $3.91. The company has a market cap of $137.86 million, a P/E ratio of -1.73 and a beta of 0.87. Clarus Corporation has a 52-week low of $3.02 and a 52-week high of $6.55.

Clarus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.79%. Clarus's dividend payout ratio is currently -4.83%.

Insider Activity at Clarus

In related news, Chairman Warren B. Kanders purchased 10,394 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were bought at an average price of $3.48 per share, for a total transaction of $36,171.12. Following the acquisition, the chairman owned 4,155,326 shares of the company's stock, valued at approximately $14,460,534.48. This represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.40% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Clarus from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Roth Capital set a $3.50 price objective on Clarus and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Finally, Lake Street Capital lowered their price target on Clarus from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.10.

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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