Clarus' (CLAR) Hold Rating Reiterated at Lake Street Capital

Key Points

• Lake Street Capital has reiterated a "hold" rating for Clarus (NASDAQ:CLAR), with a target price of $3.50, indicating a potential downside of 2.78% from its previous close.
• Clarus shares are currently trading at $3.60, having recently experienced a 3.5% decline in value.
• Institutional investors own approximately 90.30% of Clarus's stock, suggesting strong confidence from major financial entities in the company's performance.

Lake Street Capital reissued their hold rating on shares of Clarus (NASDAQ:CLAR - Free Report) in a research report released on Friday, Marketbeat Ratings reports. They currently have a $3.50 price objective on the stock.

A number of other research analysts have also weighed in on the company. Roth Capital set a $3.50 target price on Clarus and gave the company a "neutral" rating in a report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on Clarus from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.75.

Clarus Stock Down 1.7%

Clarus stock traded down $0.06 during midday trading on Friday, reaching $3.20. The stock had a trading volume of 872,534 shares, compared to its average volume of 165,903. The firm has a market capitalization of $122.69 million, a PE ratio of -1.49 and a beta of 0.87. Clarus has a 12 month low of $3.02 and a 12 month high of $5.29. The firm's 50-day moving average price is $3.54 and its 200 day moving average price is $3.82.

Clarus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, August 11th will be given a $0.025 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.10 annualized dividend and a yield of 3.1%. Clarus's payout ratio is presently -4.65%.

Insiders Place Their Bets

In related news, Chairman Warren B. Kanders acquired 10,394 shares of the stock in a transaction on Monday, June 23rd. The stock was purchased at an average price of $3.48 per share, for a total transaction of $36,171.12. Following the completion of the transaction, the chairman owned 4,155,326 shares of the company's stock, valued at $14,460,534.48. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 20.40% of the company's stock.

Institutional Trading of Clarus

Several hedge funds and other institutional investors have recently bought and sold shares of CLAR. Parthenon LLC lifted its position in Clarus by 394.2% in the first quarter. Parthenon LLC now owns 330,040 shares of the company's stock valued at $1,238,000 after purchasing an additional 263,260 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Clarus by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,640 shares of the company's stock valued at $5,388,000 after acquiring an additional 134,627 shares in the last quarter. CastleKnight Management LP raised its holdings in shares of Clarus by 59.3% during the fourth quarter. CastleKnight Management LP now owns 318,100 shares of the company's stock valued at $1,435,000 after acquiring an additional 118,413 shares in the last quarter. Strs Ohio bought a new position in shares of Clarus during the first quarter valued at approximately $425,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Clarus by 60.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 280,000 shares of the company's stock worth $1,263,000 after acquiring an additional 105,500 shares in the last quarter. Institutional investors own 90.30% of the company's stock.

Clarus Company 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.