Cwm LLC Acquires 644 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Cwm LLC boosted its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 28.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,936 shares of the communications equipment provider’s stock after acquiring an additional 644 shares during the period. Cwm LLC’s holdings in Clearfield were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CLFD. Bank of New York Mellon Corp raised its position in shares of Clearfield by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock valued at $2,934,000 after purchasing an additional 819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Clearfield by 109.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 1,423 shares during the last quarter. Barclays PLC boosted its holdings in shares of Clearfield by 69.6% during 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 during the period. New York State Common Retirement Fund grew its position in shares of Clearfield by 61.5% in the third quarter. New York State Common Retirement Fund now owns 17,813 shares of the communications equipment provider’s stock valued at $511,000 after purchasing an additional 6,782 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Clearfield during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC upped their price objective on Clearfield from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Roth Mkm restated a “buy” rating and issued a $47.00 price target on shares of Clearfield in a research note on Wednesday, May 1st. Finally, Northland Securities upgraded shares of Clearfield from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $40.00 in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.40.

Clearfield Stock Performance

NASDAQ:CLFD opened at $36.38 on Wednesday. The company has a market cap of $535.15 million, a price-to-earnings ratio of -145.52 and a beta of 1.33. Clearfield, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The stock has a fifty day moving average price of $30.17 and a 200-day moving average price of $28.31.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.13. The business had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $31.25 million. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. Clearfield’s revenue was down 43.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. Research analysts predict that Clearfield, Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Clearfield

In other Clearfield news, Chairman Ronald G. Roth acquired 2,000 shares of Clearfield stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average cost of $29.62 per share, with a total value of $59,240.00. Following the completion of the purchase, the chairman now directly owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.00% of the company’s stock.

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.