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

Cove Street Capital LLC grew its position in Clarus Co. (NASDAQ:CLAR) by 182.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 297,431 shares of the company’s stock after purchasing an additional 192,099 shares during the period. Clarus makes up 1.6% of Cove Street Capital LLC’s holdings, making the stock its 26th biggest position. Cove Street Capital LLC’s holdings in Clarus were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in Clarus by 0.7% in the 3rd quarter. State Street Corp now owns 566,027 shares of the company’s stock valued at $2,547,000 after acquiring an additional 3,789 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Clarus by 25.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,123 shares of the company’s stock valued at $100,000 after buying an additional 4,453 shares during the period. Empowered Funds LLC lifted its holdings in shares of Clarus by 5.1% during the 4th quarter. Empowered Funds LLC now owns 100,168 shares of the company’s stock worth $452,000 after acquiring an additional 4,880 shares during the period. Legacy Capital Group California Inc. grew its holdings in Clarus by 40.3% in the fourth quarter. Legacy Capital Group California Inc. now owns 20,030 shares of the company’s stock valued at $90,000 after purchasing an additional 5,749 shares during the period. Finally, Old West Investment Management LLC increased its position in Clarus by 8.0% during the third quarter. Old West Investment Management LLC now owns 124,884 shares of the company’s stock worth $562,000 after purchasing an additional 9,232 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Clarus Stock Down 3.5 %

CLAR opened at $3.83 on Friday. The company has a 50 day moving average of $4.50 and a two-hundred day moving average of $4.50. Clarus Co. has a 52-week low of $3.81 and a 52-week high of $7.55. The company has a market cap of $146.93 million, a P/E ratio of 29.46 and a beta of 0.82.

Clarus Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CLAR. Lake Street Capital decreased their price target on shares of Clarus from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 7th. B. Riley lowered their price target on Clarus from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.33.

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.