Sandia Investment Management LP Has $311,000 Stock Position in Clarus Co. (NASDAQ:CLAR)

Sandia Investment Management LP increased its stake in Clarus Co. (NASDAQ:CLAR) by 102.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 68,943 shares of the company’s stock after buying an additional 34,960 shares during the period. Sandia Investment Management LP’s holdings in Clarus were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in shares of Clarus by 26.6% in the fourth quarter. Wells Fargo & Company MN now owns 18,119 shares of the company’s stock worth $82,000 after acquiring an additional 3,810 shares during the period. Bank of America Corp DE grew its stake in Clarus by 14.6% during the fourth quarter. Bank of America Corp DE now owns 33,093 shares of the company’s stock worth $149,000 after purchasing an additional 4,211 shares during the period. Envestnet Asset Management Inc. grew its stake in Clarus by 38.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,864 shares of the company’s stock worth $72,000 after purchasing an additional 4,371 shares during the period. PNC Financial Services Group Inc. grew its stake in Clarus by 25.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,123 shares of the company’s stock worth $100,000 after purchasing an additional 4,453 shares during the period. Finally, Empowered Funds LLC grew its stake in Clarus by 5.1% during the fourth quarter. Empowered Funds LLC now owns 100,168 shares of the company’s stock worth $452,000 after purchasing an additional 4,880 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLAR shares. Lake Street Capital decreased their target price on Clarus from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, May 9th. B. Riley reduced their price objective on Clarus from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Stifel Nicolaus dropped their target price on Clarus from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Clarus presently has a consensus rating of “Hold” and an average price target of $5.50.

Clarus Trading Up 2.2%

Shares of Clarus stock opened at $3.27 on Friday. The business’s fifty day simple moving average is $3.56 and its 200 day simple moving average is $4.24. The firm has a market capitalization of $125.57 million, a P/E ratio of 25.16 and a beta of 0.87. Clarus Co. has a 12 month low of $3.13 and a 12 month high of $7.13.

Clarus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a dividend of $0.025 per share. The ex-dividend date is Monday, May 19th. This represents a $0.10 dividend on an annualized basis and a yield of 3.06%. Clarus’s dividend payout ratio (DPR) is currently -4.83%.

Clarus 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.