7,974 Shares in Clearfield, Inc. (NASDAQ:CLFD) Bought by New Century Advisors LLC

New Century Advisors LLC bought a new stake in Clearfield, Inc. (NASDAQ:CLFDGet Rating) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,974 shares of the communications equipment provider’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLFD. Point72 Hong Kong Ltd bought a new position in Clearfield in the first quarter valued at about $55,000. Amalgamated Bank bought a new stake in shares of Clearfield during the first quarter worth about $121,000. Private Advisor Group LLC bought a new stake in shares of Clearfield during the second quarter worth about $202,000. Qube Research & Technologies Ltd bought a new stake in shares of Clearfield during the fourth quarter worth about $206,000. Finally, Cetera Advisors LLC bought a new stake in shares of Clearfield during the first quarter worth about $216,000. Institutional investors own 48.06% of the company’s stock.

Insider Activity

In other news, COO John P. Hill sold 16,289 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $110.91, for a total transaction of $1,806,612.99. Following the completion of the sale, the chief operating officer now owns 168,691 shares in the company, valued at $18,709,518.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Patrick Goepel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $102.46, for a total transaction of $1,024,600.00. Following the completion of the sale, the director now owns 40,394 shares in the company, valued at $4,138,769.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John P. Hill sold 16,289 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $110.91, for a total value of $1,806,612.99. Following the sale, the chief operating officer now owns 168,691 shares of the company’s stock, valued at approximately $18,709,518.81. The disclosure for this sale can be found here. Insiders sold a total of 45,023 shares of company stock worth $4,970,719 over the last quarter. 17.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on Clearfield from $92.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Lake Street Capital lifted their price objective on Clearfield from $75.00 to $104.00 in a research note on Friday, July 29th. Westpark Capital started coverage on Clearfield in a research note on Tuesday, September 13th. They issued a “hold” rating on the stock. Finally, Northland Securities lifted their price objective on Clearfield from $95.00 to $110.00 in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.25.

Clearfield Stock Down 1.6 %

CLFD traded down $1.46 during trading on Friday, hitting $89.35. The company’s stock had a trading volume of 9,393 shares, compared to its average volume of 237,436. Clearfield, Inc. has a twelve month low of $42.41 and a twelve month high of $130.01. The stock’s fifty day moving average price is $102.61 and its 200-day moving average price is $75.35. The firm has a market capitalization of $1.23 billion, a P/E ratio of 31.59 and a beta of 1.31.

Clearfield (NASDAQ:CLFDGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The communications equipment provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $71.25 million for the quarter, compared to analyst estimates of $55.00 million. Clearfield had a return on equity of 33.27% and a net margin of 18.00%. Equities research analysts expect that Clearfield, Inc. will post 3.13 EPS for the current fiscal year.

About Clearfield

(Get Rating)

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

See Also

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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