Quantbot Technologies LP Invests $53,000 in Clearfield, Inc. (NASDAQ:CLFD)

Quantbot Technologies LP purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,350 shares of the communications equipment provider’s stock, valued at approximately $53,000.

A number of other institutional investors also recently bought and sold shares of CLFD. Redwood Wealth Management Group LLC purchased a new stake in shares of Clearfield in the second quarter valued at $75,000. Truvestments Capital LLC bought a new position in Clearfield during the 3rd quarter valued at about $80,000. Canada Pension Plan Investment Board purchased a new stake in Clearfield in the 2nd quarter worth about $85,000. SG Americas Securities LLC bought a new stake in Clearfield in the second quarter worth about $130,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Clearfield during the second quarter valued at approximately $217,000. 88.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CLFD shares. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Insider Activity at Clearfield

In other Clearfield news, Chairman Ronald G. Roth bought 5,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $31.00 per share, with a total value of $155,000.00. Following the completion of the acquisition, the chairman now directly owns 1,266,796 shares of the company’s stock, valued at $39,270,676. This represents a 0.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Clearfield Stock Performance

Clearfield stock opened at $30.61 on Friday. The company has a market capitalization of $437.42 million, a PE ratio of -36.01 and a beta of 1.28. The company has a 50 day moving average price of $34.27 and a 200-day moving average price of $37.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. Clearfield, Inc. has a fifty-two week low of $24.78 and a fifty-two week high of $44.83.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data 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. The company had revenue of $46.80 million during the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. Clearfield’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities analysts forecast that Clearfield, Inc. will post -0.05 earnings per share for the current year.

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.