Potomac Capital Management Inc. Takes Position in Clarus Corporation $CLAR

Potomac Capital Management Inc. acquired a new stake in shares of Clarus Corporation (NASDAQ:CLAR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 968,500 shares of the company’s stock, valued at approximately $3,244,000. Clarus comprises about 2.6% of Potomac Capital Management Inc.’s portfolio, making the stock its 12th largest holding. Potomac Capital Management Inc. owned about 2.52% of Clarus at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Clarus by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 702,446 shares of the company’s stock valued at $2,354,000 after acquiring an additional 3,611 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Clarus by 16.7% during the 2nd quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock valued at $243,000 after acquiring an additional 10,000 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Clarus by 35.4% during the 2nd quarter. Jane Street Group LLC now owns 38,569 shares of the company’s stock valued at $134,000 after acquiring an additional 10,094 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Clarus by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company’s stock valued at $620,000 after acquiring an additional 10,873 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Clarus by 3.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 315,000 shares of the company’s stock valued at $1,102,000 after acquiring an additional 11,500 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Roth Mkm set a $2.90 price objective on Clarus in a research report on Wednesday, May 13th. Wall Street Zen upgraded Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Stifel Nicolaus set a $5.00 price objective on Clarus in a research report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarus in a research note on Wednesday, June 3rd. Finally, Zacks Research downgraded shares of Clarus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Clarus has a consensus rating of “Hold” and a consensus price target of $3.63.

Clarus Price Performance

Clarus stock opened at $2.92 on Wednesday. The company has a market capitalization of $112.24 million, a price-to-earnings ratio of -2.52 and a beta of 1.09. Clarus Corporation has a one year low of $2.53 and a one year high of $4.03. The company’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $3.16.

Clarus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 18th. Clarus’s dividend payout ratio is presently -8.62%.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.