Creative Planning Purchases 511 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Creative Planning boosted its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,599 shares of the communications equipment provider’s stock after purchasing an additional 511 shares during the period. Creative Planning’s holdings in Clearfield were worth $3,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLFD. Nordea Investment Management AB raised its position in shares of Clearfield by 172.9% in the 1st quarter. Nordea Investment Management AB now owns 113,904 shares of the communications equipment provider’s stock worth $3,531,000 after purchasing an additional 72,164 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Clearfield by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after buying an additional 14,307 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Clearfield during the second quarter valued at approximately $835,000. Dimensional Fund Advisors LP increased its position in shares of Clearfield by 83.2% during the second quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock valued at $8,798,000 after acquiring an additional 103,648 shares in the last quarter. Finally, Select Equity Group L.P. bought a new stake in shares of Clearfield during the second quarter valued at approximately $453,000. Institutional investors own 88.73% of the company’s stock.

Clearfield Trading Up 0.3 %

Shares of NASDAQ:CLFD opened at $36.43 on Friday. The stock has a 50 day moving average of $37.72 and a 200 day moving average of $37.18. The company has a market cap of $518.51 million, a PE ratio of -145.72 and a beta of 1.34. Clearfield, Inc. has a 12-month low of $22.91 and a 12-month high of $44.83. The company has a current ratio of 8.38, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.30. The business had revenue of $48.79 million during the quarter, compared to analyst estimates of $42.13 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The company’s revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, equities research analysts expect that Clearfield, Inc. will post -0.98 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Northland Securities lifted their target price on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $47.00 in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Clearfield in a report on Tuesday, September 24th. Roth Mkm cut their target price on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com cut Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Insider Buying and Selling at Clearfield

In other Clearfield news, Director Walter Louis Jones, Jr. purchased 1,324 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $37.77 per share, with a total value of $50,007.48. Following the acquisition, the director now owns 6,061 shares in the company, valued at approximately $228,923.97. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 16.00% 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.