Insider Buying: ClearOne, Inc. (CLRO) Director Acquires 21,037 Shares of Stock
ClearOne, Inc. (NASDAQ:CLRO) Director Edward D. Bagley acquired 21,037 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $7.59 per share, for a total transaction of $159,670.83. Following the completion of the acquisition, the director now directly owns 1,854,877 shares of the company’s stock, valued at approximately $14,078,516.43. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
ClearOne, Inc. (NASDAQ:CLRO) traded up 0.577% on Tuesday, reaching $7.845. The company’s stock had a trading volume of 7,027 shares. The stock has a market capitalization of $68.28 million, a P/E ratio of 115.368 and a beta of 1.26. ClearOne, Inc. has a 52 week low of $7.20 and a 52 week high of $12.60. The firm has a 50 day moving average price of $9.45 and a 200 day moving average price of $10.25.
ClearOne (NASDAQ:CLRO) last announced its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $10.31 million during the quarter, compared to analyst estimates of $12.01 million. ClearOne had a negative net margin of 2.56% and a positive return on equity of 1.83%. On average, equities analysts anticipate that ClearOne, Inc. will post $0.27 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a $0.07 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.59%. ClearOne’s dividend payout ratio (DPR) is presently -215.38%.
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A number of research analysts recently commented on CLRO shares. B. Riley reiterated a “buy” rating and issued a $12.50 price objective on shares of ClearOne in a report on Thursday, May 11th. Zacks Investment Research cut ClearOne from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th.
Several institutional investors have recently made changes to their positions in CLRO. Wellington Management Group LLP raised its position in shares of ClearOne by 0.8% in the first quarter. Wellington Management Group LLP now owns 900,276 shares of the communications equipment provider’s stock worth $8,913,000 after buying an additional 7,320 shares during the period. Renaissance Technologies LLC raised its position in shares of ClearOne by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 167,800 shares of the communications equipment provider’s stock worth $1,913,000 after buying an additional 11,300 shares during the period. Finally, Hancock Holding Co. bought a new position in shares of ClearOne during the first quarter worth $166,000. Institutional investors own 19.65% of the company’s stock.
ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.
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