Easterly Investment Partners LLC Raises Stock Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Easterly Investment Partners LLC increased its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 31.3% in the third quarter, HoldingsChannel reports. The firm owned 11,632 shares of the communications equipment provider’s stock after acquiring an additional 2,774 shares during the quarter. Easterly Investment Partners LLC’s holdings in Clearfield were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLFD. Vanguard Group Inc. raised its position in shares of Clearfield by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after acquiring an additional 14,307 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Clearfield in the 2nd quarter worth approximately $835,000. Creative Planning boosted its stake in Clearfield by 2.5% during the second quarter. Creative Planning now owns 98,088 shares of the communications equipment provider’s stock worth $3,782,000 after buying an additional 2,426 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Clearfield by 83.2% during the second quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock worth $8,798,000 after purchasing an additional 103,648 shares during the last quarter. Finally, Select Equity Group L.P. purchased a new stake in shares of Clearfield during the 2nd quarter valued at approximately $453,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Clearfield Stock Performance

Shares of Clearfield stock opened at $34.20 on Friday. 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 52 week low of $23.45 and a 52 week high of $44.83. The firm’s 50 day moving average is $37.49 and its two-hundred day moving average is $37.65. The firm has a market capitalization of $487.01 million, a P/E ratio of -55.16 and a beta of 1.35.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. During the same period last year, the business earned $0.17 EPS. Clearfield’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts forecast that Clearfield, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on CLFD. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Clearfield in a research note on Friday. StockNews.com raised shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Thursday. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and upped their price target for the stock from $31.00 to $47.00 in a report on Friday, August 2nd. Northland Securities boosted their price target on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Roth Mkm dropped their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearfield currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.