Clearfield, Inc. (NASDAQ:CLFD) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,146 shares of the communications equipment provider’s stock after purchasing an additional 366 shares during the quarter. Invesco Ltd. owned about 0.11% of Clearfield worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of Clearfield by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock worth $239,000 after acquiring an additional 1,544 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Clearfield during the 4th quarter worth $585,000. Trexquant Investment LP increased its holdings in Clearfield by 26.5% during the 4th quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider’s stock worth $296,000 after purchasing an additional 1,997 shares during the period. JPMorgan Chase & Co. raised its position in Clearfield by 7.7% in the 4th quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider’s stock valued at $1,372,000 after purchasing an additional 3,174 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Clearfield in the 4th quarter valued at about $74,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Clearfield Stock Up 4.5 %

CLFD opened at $31.12 on Friday. Clearfield, Inc. has a one year low of $23.78 and a one year high of $44.83. The company has a market cap of $439.79 million, a price-to-earnings ratio of -49.40 and a beta of 1.61. The business’s fifty day moving average is $28.91 and its two-hundred day moving average is $32.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLFD has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Wednesday, March 26th. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and four have assigned 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 $46.75.

Insider Transactions at Clearfield

In related news, COO John P. Hill sold 16,539 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the transaction, the chief operating officer now owns 189,886 shares of the company’s stock, valued at approximately $6,315,608.36. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.80% of the company’s stock.

About Clearfield

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.