BNP Paribas Financial Markets Trims Position in Clearfield, Inc. (NASDAQ:CLFD)

BNP Paribas Financial Markets lessened its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,557 shares of the communications equipment provider’s stock after selling 1,014 shares during the quarter. BNP Paribas Financial Markets’ holdings in Clearfield were worth $48,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Clearfield by 2.5% during the fourth quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider’s stock valued at $470,000 after purchasing an additional 366 shares during the period. Tower Research Capital LLC TRC grew its holdings in Clearfield by 340.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 906 shares during the period. Wells Fargo & Company MN grew its holdings in Clearfield by 25.0% during the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 1,544 shares during the period. SG Americas Securities LLC grew its holdings in Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock valued at $164,000 after purchasing an additional 1,656 shares during the period. Finally, Trexquant Investment LP grew its holdings in Clearfield by 26.5% during the fourth quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider’s stock valued at $296,000 after purchasing an additional 1,997 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Clearfield Stock Performance

NASDAQ:CLFD opened at $38.40 on Wednesday. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $44.83. The stock has a 50-day moving average price of $31.60 and a 200 day moving average price of $32.29. The stock has a market capitalization of $531.11 million, a P/E ratio of -60.95 and a beta of 1.61.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.28. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. The firm had revenue of $47.17 million during the quarter, compared to analysts’ expectations of $38.53 million. Equities research analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen raised Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Clearfield in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.75.

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.