Insider Buying: ClearOne, Inc. (CLRO) Major Shareholder Purchases 30,000 Shares of Stock
ClearOne, Inc. (NASDAQ:CLRO) major shareholder Edward D. Bagley acquired 30,000 shares of the stock in a transaction dated Monday, August 28th. The stock was bought at an average price of $7.63 per share, for a total transaction of $228,900.00. Following the completion of the purchase, the insider now owns 1,920,518 shares in the company, valued at approximately $14,653,552.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
ClearOne, Inc. (NASDAQ CLRO) traded up 0.66% during midday trading on Tuesday, hitting $7.60. The stock had a trading volume of 2,493 shares. ClearOne, Inc. has a 1-year low of $7.20 and a 1-year high of $12.60. The company’s market cap is $64.98 million. The company’s 50 day moving average is $9.02 and its 200 day moving average is $9.98.
ClearOne (NASDAQ:CLRO) last posted its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The company had revenue of $10.31 million for the quarter, compared to analysts’ expectations 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 $0.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, August 18th. ClearOne’s payout ratio is presently -215.38%.
Several equities research analysts have recently weighed in on CLRO shares. Zacks Investment Research lowered ClearOne from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. B. Riley reiterated a “buy” rating and issued a $12.50 price objective on shares of ClearOne in a research note on Thursday, May 11th.
An institutional investor recently raised its position in ClearOne stock. Wellington Management Group LLP raised its position in ClearOne, Inc. (NASDAQ:CLRO) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 900,276 shares of the communications equipment provider’s stock after buying an additional 7,320 shares during the period. Wellington Management Group LLP owned 10.29% of ClearOne worth $8,913,000 as of its most recent filing with the SEC. 17.18% of the stock is currently owned by institutional investors.
ClearOne Company Profile
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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