Parkside Financial Bank & Trust Buys 648 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Parkside Financial Bank & Trust grew its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 134.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,130 shares of the communications equipment provider’s stock after acquiring an additional 648 shares during the period. Parkside Financial Bank & Trust’s holdings in Clearfield were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of Clearfield during the fourth quarter valued at $5,148,000. Nordea Investment Management AB bought a new stake in shares of Clearfield in the third quarter worth about $1,247,000. Federated Hermes Inc. increased its holdings in shares of Clearfield by 1,247.7% in the fourth quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider’s stock worth $6,128,000 after acquiring an additional 195,082 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Clearfield by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,160,764 shares of the communications equipment provider’s stock worth $33,267,000 after acquiring an additional 10,370 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Clearfield by 69.6% in the third quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock worth $505,000 after acquiring an additional 7,226 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Insider Activity at Clearfield

In related news, Chairman Ronald G. Roth purchased 2,000 shares of Clearfield stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $29.62 per share, with a total value of $59,240.00. Following the completion of the transaction, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.00% of the company’s stock.

Clearfield Stock Performance

NASDAQ:CLFD opened at $29.51 on Friday. The company has a market cap of $434.09 million, a PE ratio of 35.99 and a beta of 1.32. Clearfield, Inc. has a 52-week low of $22.91 and a 52-week high of $50.82. The stock has a 50-day simple moving average of $29.74 and a 200 day simple moving average of $27.97.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $34.20 million during the quarter, compared to the consensus estimate of $29.88 million. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. Clearfield’s quarterly revenue was down 60.2% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. On average, research analysts predict that Clearfield, Inc. will post -1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Roth Mkm lowered their price target on Clearfield from $49.00 to $47.00 and set a “buy” rating for the company in a report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Clearfield presently has an average rating of “Hold” and an average target price of $42.20.

Clearfield Profile

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.