Potomac Capital Management Inc. Takes $3.24 Million Position in Clarus Corporation $CLAR

Potomac Capital Management Inc. purchased a new stake in Clarus Corporation (NASDAQ:CLAR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 968,500 shares of the company’s stock, valued at approximately $3,244,000. Clarus comprises 2.6% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Verition Fund Management LLC acquired a new stake in shares of Clarus in the third quarter worth $50,000. Marshall Wace LLP acquired a new stake in shares of Clarus in the second quarter worth $100,000. Jane Street Group LLC acquired a new stake in shares of Clarus in the first quarter worth $107,000. Two Sigma Investments LP acquired a new stake in shares of Clarus in the third quarter worth $221,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Clarus by 344.8% in the third quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company’s stock worth $233,000 after acquiring an additional 51,548 shares during the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

Clarus Trading Up 3.2%

Shares of NASDAQ CLAR opened at $2.92 on Wednesday. The business has a fifty day simple moving average of $2.81 and a 200 day simple moving average of $3.16. The firm 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.

Clarus Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLAR. Stifel Nicolaus set a $5.00 price objective on shares of Clarus in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Clarus from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research downgraded Clarus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Lake Street Capital decreased their target price on Clarus from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.63.

Clarus Profile

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.