Cove Street Capital LLC Boosts Holdings in Clarus Co. (NASDAQ:CLAR)

Cove Street Capital LLC boosted its stake in Clarus Co. (NASDAQ:CLAR) by 182.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,431 shares of the company’s stock after acquiring an additional 192,099 shares during the period. Clarus comprises approximately 1.6% of Cove Street Capital LLC’s portfolio, making the stock its 26th largest position. Cove Street Capital LLC owned approximately 0.78% of Clarus worth $1,341,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its position in shares of Clarus by 34.3% in the 4th quarter. First Eagle Investment Management LLC now owns 785,200 shares of the company’s stock valued at $3,541,000 after purchasing an additional 200,500 shares during the period. JPMorgan Chase & Co. lifted its stake in Clarus by 393.0% in the third quarter. JPMorgan Chase & Co. now owns 66,675 shares of the company’s stock valued at $300,000 after buying an additional 53,150 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Clarus by 43.0% in the fourth quarter. Bank of New York Mellon Corp now owns 372,936 shares of the company’s stock valued at $1,682,000 after acquiring an additional 112,099 shares during the period. XTX Topco Ltd purchased a new position in shares of Clarus during the third quarter worth approximately $104,000. Finally, Empowered Funds LLC increased its holdings in shares of Clarus by 5.1% in the 4th quarter. Empowered Funds LLC now owns 100,168 shares of the company’s stock valued at $452,000 after acquiring an additional 4,880 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CLAR shares. B. Riley lowered their price objective on shares of Clarus from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Lake Street Capital lowered their price target on Clarus from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.33.

Clarus Stock Performance

Shares of Clarus stock opened at $3.83 on Friday. The company has a market cap of $146.93 million, a P/E ratio of 29.46 and a beta of 0.82. The firm has a fifty day moving average of $4.50 and a two-hundred day moving average of $4.50. Clarus Co. has a one year low of $3.81 and a one year high of $7.55.

Clarus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.10 dividend on an annualized basis and a yield of 2.61%. Clarus’s payout ratio is currently -7.35%.

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.