Hsbc Holdings PLC Purchases Shares of 2,164 Clearfield, Inc. (NASDAQ:CLFD)

Hsbc Holdings PLC purchased a new stake in Clearfield, Inc. (NASDAQ:CLFD – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,164 shares of the communications equipment provider’s stock, valued at approximately $232,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Clearfield in the first quarter valued at approximately $55,000. Strs Ohio acquired a new stake in shares of Clearfield in the third quarter valued at approximately $62,000. Tower Research Capital LLC TRC boosted its holdings in shares of Clearfield by 54.4% in the third quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 243 shares during the period. KBC Group NV acquired a new stake in shares of Clearfield in the third quarter valued at approximately $99,000. Finally, Stephens Inc. AR acquired a new stake in shares of Clearfield in the third quarter valued at approximately $209,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CLFD shares. Cowen decreased their price objective on Clearfield from $141.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Roth Capital began coverage on Clearfield in a report on Tuesday, January 17th. They issued a “buy” rating and a $120.00 price objective for the company. Needham & Company LLC decreased their price target on Clearfield from $135.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Northland Securities decreased their price target on Clearfield from $120.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, Lake Street Capital decreased their price target on Clearfield from $135.00 to $108.00 in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.33.

Insider Buying and Selling at Clearfield

In other news, Director Charles N. Hayssen purchased 3,000 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the completion of the transaction, the director now directly owns 136,847 shares in the company, valued at approximately $8,279,243.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Charles N. Hayssen purchased 3,000 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the completion of the transaction, the director now directly owns 136,847 shares in the company, valued at approximately $8,279,243.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Ronald G. Roth purchased 3,100 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was purchased at an average price of $64.00 per share, with a total value of $198,400.00. Following the transaction, the chairman now owns 1,254,783 shares of the company’s stock, valued at $80,306,112. The disclosure for this purchase can be found here. 15.30% of the stock is owned by corporate insiders.

Clearfield Price Performance

Clearfield stock opened at $52.69 on Friday. Clearfield, Inc. has a one year low of $48.91 and a one year high of $134.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.51 and a current ratio of 6.49. The business has a fifty day moving average of $70.70 and a two-hundred day moving average of $93.05. The company has a market cap of $801.94 million, a P/E ratio of 13.87 and a beta of 1.36.

Clearfield (NASDAQ:CLFD – Get Rating) last released its earnings results on Thursday, February 2nd. The communications equipment provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Clearfield had a return on equity of 30.34% and a net margin of 17.41%. The company had revenue of $85.90 million during the quarter, compared to the consensus estimate of $83.56 million. During the same quarter last year, the company earned $0.75 earnings per share. Clearfield’s quarterly revenue was up 68.1% compared to the same quarter last year. As a group, analysts predict that Clearfield, Inc. will post 4.39 earnings per share for the current fiscal year.

About Clearfield

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Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.