D. E. Shaw & Co. Inc. Cuts Stake in Clarus Co. (NASDAQ:CLAR)

D. E. Shaw & Co. Inc. cut its holdings in shares of Clarus Co. (NASDAQ:CLAR) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,860 shares of the company’s stock after selling 34,526 shares during the period. D. E. Shaw & Co. Inc. owned 0.76% of Clarus worth $1,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in Clarus by 26.6% during the 4th quarter. Wells Fargo & Company MN now owns 18,119 shares of the company’s stock valued at $82,000 after buying an additional 3,810 shares in the last quarter. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 4,211 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of 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 acquiring an additional 4,371 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Clarus by 25.2% during the 4th 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 last quarter. Finally, Empowered Funds LLC increased its stake in Clarus by 5.1% during the 4th quarter. Empowered Funds LLC now owns 100,168 shares of the company’s stock valued at $452,000 after purchasing an additional 4,880 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Clarus Price Performance

Shares of Clarus stock opened at $3.17 on Friday. The stock has a market cap of $121.73 million, a PE ratio of 24.39 and a beta of 0.87. The firm has a fifty day moving average price of $3.49 and a 200 day moving average price of $4.21. Clarus Co. has a 1 year low of $3.02 and a 1 year high of $7.13.

Clarus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, May 19th. Clarus’s payout ratio is presently -4.83%.

Analysts Set New Price Targets

CLAR has been the topic of a number of research analyst reports. Lake Street Capital dropped their price objective on shares of Clarus from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Stifel Nicolaus reduced their target price on Clarus from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. B. Riley dropped their price target on Clarus from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Roth Capital set a $3.50 price objective on Clarus and gave the company a “neutral” rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Clarus presently has a consensus rating of “Hold” and a consensus target price of $5.10.

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.