Victory Capital Management Inc. raised its position in shares of Clarus Co. (NASDAQ:CLAR) by 11.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,022 shares of the company’s stock after buying an additional 2,641 shares during the quarter. Victory Capital Management Inc.’s holdings in Clarus were worth $642,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLAR. Castleview Partners LLC acquired a new stake in Clarus during the second quarter valued at approximately $53,000. Citigroup Inc. raised its stake in Clarus by 21.7% during the second quarter. Citigroup Inc. now owns 2,381 shares of the company’s stock valued at $61,000 after buying an additional 424 shares in the last quarter. Legal & General Group Plc raised its stake in Clarus by 24.2% during the second quarter. Legal & General Group Plc now owns 2,560 shares of the company’s stock valued at $66,000 after buying an additional 499 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Clarus during the second quarter valued at approximately $101,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Clarus during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.
Shares of NASDAQ:CLAR opened at $23.70 on Friday. Clarus Co. has a one year low of $15.31 and a one year high of $32.36. The stock has a fifty day moving average of $27.09 and a 200-day moving average of $27.36. The company has a market capitalization of $876.62 million, a PE ratio of 40.86 and a beta of 0.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.36 and a current ratio of 3.12.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Monday, November 8th were issued a $0.025 dividend. The ex-dividend date was Friday, November 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.42%. Clarus’s payout ratio is currently 17.24%.
In other news, Director Donald House sold 10,000 shares of the stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $27.65, for a total value of $276,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 26.30% of the stock is owned by corporate insiders.
Several research firms have recently commented on CLAR. BNP Paribas raised Clarus from a “neutral” rating to an “outperform” rating and set a $33.00 target price for the company in a report on Wednesday, December 15th. Bank of America started coverage on Clarus in a report on Tuesday, December 21st. They issued a “buy” rating and a $35.00 price objective for the company. DA Davidson increased their price target on Clarus from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, October 19th. Raymond James increased their price target on Clarus from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, December 3rd. Finally, Zacks Investment Research raised Clarus from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.71.
Clarus Company Profile
Clarus Corp. engages in development, manufacture, and distribution of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. It operates through the Black Diamond and Sierra segment. The Black Diamond segment designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and a range of other year-round outdoor recreation activities.
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