Clearfield, Inc. (NASDAQ:CLFD) Stake Decreased by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lessened its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,043 shares of the communications equipment provider’s stock after selling 381 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Clearfield were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Clearfield by 8.3% during the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 279 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Clearfield by 2.7% during the second quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock valued at $598,000 after buying an additional 405 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Clearfield by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after buying an additional 510 shares during the last quarter. Creative Planning raised its holdings in shares of Clearfield by 0.5% during the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock valued at $3,841,000 after buying an additional 511 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Clearfield by 2.3% during the first quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock valued at $1,047,000 after acquiring an additional 777 shares during the period. Institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CLFD. Roth Mkm lowered their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Northland Securities lifted their price target on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research report on Tuesday, September 24th. Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Clearfield has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Insider Activity

In other Clearfield news, Director Walter Louis Jones, Jr. acquired 1,324 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $37.77 per share, for a total transaction of $50,007.48. Following the completion of the acquisition, the director now owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

Clearfield Trading Up 0.9 %

Clearfield stock opened at $36.25 on Friday. The company’s fifty day simple moving average is $37.60 and its 200-day simple moving average is $37.39. The company has a quick ratio of 5.73, a current ratio of 8.38 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 12 month low of $23.45 and a 12 month high of $44.83. The stock has a market cap of $516.20 million, a P/E ratio of -58.47 and a beta of 1.34.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.30. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The business had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. During the same period in the previous year, the company posted $0.33 EPS. Clearfield’s revenue was down 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Clearfield, Inc. will post -0.98 EPS for the current fiscal year.

About Clearfield

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.