Clarus (NASDAQ:CLAR) Announces Quarterly Earnings Results

Clarus (NASDAQ:CLAR) released its quarterly earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01), reports. Clarus had a negative return on equity of 0.75% and a net margin of 2.23%. The firm had revenue of $67.12 million for the quarter, compared to analyst estimates of $72.98 million. Clarus updated its FY 2024 guidance to EPS.

Clarus Price Performance

CLAR stock traded down $0.34 during midday trading on Friday, hitting $4.41. The stock had a trading volume of 704,221 shares, compared to its average volume of 281,438. Clarus has a 12-month low of $3.89 and a 12-month high of $7.55. The firm has a market cap of $169.17 million, a PE ratio of 24.50 and a beta of 0.83. The company’s 50-day moving average price is $4.38 and its 200 day moving average price is $5.46.

Clarus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, November 18th. This represents a $0.10 dividend on an annualized basis and a yield of 2.27%. Clarus’s dividend payout ratio (DPR) is currently 55.56%.

Insider Transactions at Clarus

In other Clarus news, Chairman Warren B. Kanders bought 200,000 shares of Clarus stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $4.19 per share, for a total transaction of $838,000.00. Following the completion of the transaction, the chairman now owns 4,045,527 shares of the company’s stock, valued at $16,950,758.13. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Warren B. Kanders purchased 200,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $4.19 per share, with a total value of $838,000.00. Following the completion of the purchase, the chairman now directly owns 4,045,527 shares in the company, valued at approximately $16,950,758.13. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Warren B. Kanders purchased 30,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $4.05 per share, for a total transaction of $121,500.00. Following the acquisition, the chairman now owns 4,075,527 shares in the company, valued at $16,505,884.35. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 20.40% of the company’s stock.

Hedge Funds Weigh In On Clarus

A number of large investors have recently modified their holdings of CLAR. Legacy Capital Group California Inc. increased its position in Clarus by 32.7% during the 3rd quarter. Legacy Capital Group California Inc. now owns 14,281 shares of the company’s stock worth $64,000 after purchasing an additional 3,521 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Clarus in the first quarter valued at about $83,000. BNP Paribas Financial Markets lifted its stake in shares of Clarus by 71.5% during the first quarter. BNP Paribas Financial Markets now owns 14,908 shares of the company’s stock worth $101,000 after purchasing an additional 6,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Clarus by 30.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,530 shares of the company’s stock worth $105,000 after buying an additional 3,658 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Clarus in the third quarter valued at about $153,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CLAR shares. StockNews.com cut shares of Clarus from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. B. Riley cut their price objective on Clarus from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Roth Mkm cut Clarus from a “buy” rating to a “neutral” rating and lowered their target price for the company from $7.50 to $6.00 in a report on Friday, August 2nd. Finally, Roth Capital cut Clarus from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Clarus currently has a consensus rating of “Hold” and an average price target of $6.67.

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.