Swiss National Bank Decreases Stock Position in Clearfield, Inc. (NASDAQ:CLFD)

Swiss National Bank lowered its stake in Clearfield, Inc. (NASDAQ:CLFDFree Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,100 shares of the communications equipment provider’s stock after selling 2,700 shares during the period. Swiss National Bank owned approximately 0.18% of Clearfield worth $788,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of Clearfield by 134.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 648 shares during the period. Victory Capital Management Inc. boosted its position in Clearfield by 70.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock valued at $61,000 after acquiring an additional 860 shares in the last quarter. CWM LLC boosted its position in Clearfield by 28.1% during the 4th quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock valued at $85,000 after acquiring an additional 644 shares in the last quarter. Quantbot Technologies LP bought a new stake in Clearfield during the 3rd quarter valued at approximately $120,000. Finally, Cetera Trust Company N.A bought a new stake in Clearfield during the 4th quarter valued at approximately $124,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Insider Buying and Selling at Clearfield

In other Clearfield news, Chairman Ronald G. Roth acquired 2,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $36.40 per share, with a total value of $72,800.00. Following the transaction, the chairman now directly owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 3,359 shares of company stock worth $117,665. Insiders own 16.00% of the company’s stock.

Clearfield Trading Up 1.4 %

Shares of CLFD opened at $38.26 on Friday. The firm has a market cap of $544.44 million, a PE ratio of -153.04 and a beta of 1.33. The firm has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $29.78. Clearfield, Inc. has a 1-year low of $22.91 and a 1-year high of $50.82.

Clearfield (NASDAQ:CLFDGet Free Report) last announced its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.13. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $31.25 million. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. The company’s quarterly revenue was down 43.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. As a group, research analysts forecast that Clearfield, Inc. will post -1.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Northland Securities upgraded shares of Clearfield from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $25.00 to $40.00 in a report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $42.00 target price on shares of Clearfield in a report on Thursday, May 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $47.00 target price on shares of Clearfield in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.40.

View Our Latest Stock Analysis on Clearfield

Clearfield Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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