Lake Street Capital Issues Pessimistic Forecast for Clarus (NASDAQ:CLAR) Stock Price

Clarus (NASDAQ:CLAR) had its price target decreased by Lake Street Capital from $5.50 to $5.00 in a report released on Friday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Clarus Stock Performance

Shares of NASDAQ:CLAR opened at $4.43 on Friday. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $4.53. The stock has a market capitalization of $169.94 million, a P/E ratio of 34.08 and a beta of 0.82. Clarus has a 1 year low of $3.89 and a 1 year high of $7.55.

Clarus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Monday, March 17th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, March 17th. Clarus’s dividend payout ratio is presently -7.35%.

Institutional Trading of Clarus

A number of institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of Clarus during the third quarter worth about $153,000. Empowered Funds LLC raised its holdings in shares of Clarus by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,288 shares of the company’s stock valued at $429,000 after buying an additional 4,824 shares during the period. Quantbot Technologies LP acquired a new position in Clarus during the 3rd quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. purchased a new position in Clarus in the 3rd quarter worth approximately $420,000. Finally, Quadrature Capital Ltd acquired a new stake in Clarus in the third quarter valued at approximately $100,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.