Redwood Wealth Management Group LLC Buys New Shares in Clearfield, Inc. (NASDAQ:CLFD)

Redwood Wealth Management Group LLC bought a new position in shares of Clearfield, Inc. (NASDAQ:CLFD) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,945 shares of the communications equipment provider’s stock, valued at approximately $75,000.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in shares of Clearfield by 172.9% during the first quarter. Nordea Investment Management AB now owns 113,904 shares of the communications equipment provider’s stock worth $3,531,000 after buying an additional 72,164 shares in the last quarter. Harber Asset Management LLC purchased a new stake in shares of Clearfield in the 4th quarter valued at approximately $4,310,000. Vanguard Group Inc. increased its position in shares of Clearfield by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock valued at $31,223,000 after purchasing an additional 14,307 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Clearfield in the 2nd quarter valued at $835,000. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Clearfield during the 4th quarter worth $349,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Insider Activity at Clearfield

In other Clearfield news, Director Walter Louis Jones, Jr. acquired 1,324 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $37.77 per share, with a total value of $50,007.48. Following the transaction, the director now owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is owned by insiders.

Clearfield Stock Up 3.6 %

Clearfield stock opened at $39.64 on Monday. The company has a market capitalization of $564.47 million, a P/E ratio of -158.56 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. Clearfield, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $44.83. The stock has a 50-day simple moving average of $38.92 and a 200-day simple moving average of $35.58.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. The company had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $42.13 million. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities research analysts expect that Clearfield, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on CLFD shares. Roth Mkm cut their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com raised Clearfield to a “sell” rating in a research report on Monday, August 5th. Northland Securities upped their price target on Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC increased their price target on shares of Clearfield from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Company 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.