Parthenon LLC Grows Position in Clarus Co. (NASDAQ:CLAR)

Parthenon LLC increased its holdings in Clarus Co. (NASDAQ:CLAR) by 94.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,164 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Parthenon LLC’s holdings in Clarus were worth $1,277,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC lifted its stake in Clarus by 2.0% in the third quarter. Motley Fool Asset Management LLC now owns 191,136 shares of the company’s stock worth $1,445,000 after acquiring an additional 3,710 shares during the period. Aigen Investment Management LP bought a new position in Clarus in the third quarter worth about $92,000. First Eagle Investment Management LLC raised its holdings in Clarus by 71.7% in the third quarter. First Eagle Investment Management LLC now owns 357,608 shares of the company’s stock worth $2,704,000 after purchasing an additional 149,367 shares in the last quarter. Greenhaven Road Investment Management L.P. bought a new position in Clarus in the third quarter worth about $782,000. Finally, M&T Bank Corp raised its holdings in Clarus by 21.8% in the third quarter. M&T Bank Corp now owns 65,416 shares of the company’s stock worth $494,000 after purchasing an additional 11,688 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Clarus Price Performance

NASDAQ:CLAR traded down $0.12 during midday trading on Tuesday, hitting $6.33. The company’s stock had a trading volume of 167,863 shares, compared to its average volume of 277,855. Clarus Co. has a fifty-two week low of $4.77 and a fifty-two week high of $9.71. The firm’s 50 day moving average is $6.32 and its 200-day moving average is $6.04. The firm has a market cap of $242.06 million, a P/E ratio of -23.44 and a beta of 0.90.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). Clarus had a positive return on equity of 3.31% and a negative net margin of 2.84%. The business had revenue of $76.50 million during the quarter, compared to analyst estimates of $84.45 million. As a group, analysts forecast that Clarus Co. will post -0.01 EPS for the current year.

Clarus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were given a $0.025 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.10 annualized dividend and a yield of 1.58%. Clarus’s dividend payout ratio is presently -37.04%.

Analyst Ratings Changes

A number of brokerages have commented on CLAR. Roth Mkm boosted their target price on shares of Clarus from $6.50 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Jefferies Financial Group restated a “hold” rating and set a $7.00 price objective (down previously from $13.00) on shares of Clarus in a report on Thursday, January 4th. StockNews.com upgraded shares of Clarus to a “sell” rating in a report on Thursday, April 11th. Finally, B. Riley cut their price objective on shares of Clarus from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Clarus has an average rating of “Hold” and a consensus price target of $9.75.

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.