Dana Investment Advisors Inc. Cuts Position in Clearfield, Inc. (NASDAQ:CLFD)

Dana Investment Advisors Inc. trimmed its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 5.5% during the 4th quarter, Holdings Channel reports. The fund owned 116,527 shares of the communications equipment provider’s stock after selling 6,724 shares during the period. Dana Investment Advisors Inc.’s holdings in Clearfield were worth $3,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bard Associates Inc. increased its position in Clearfield by 6.5% in the third quarter. Bard Associates Inc. now owns 12,220 shares of the communications equipment provider’s stock worth $476,000 after purchasing an additional 741 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Clearfield by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock worth $1,171,000 after buying an additional 794 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Clearfield in the 3rd quarter worth about $53,000. SG Americas Securities LLC raised its position in shares of Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock valued at $164,000 after buying an additional 1,656 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Clearfield during the 3rd quarter valued at about $80,000. 88.73% of the stock is currently owned by institutional investors.

Clearfield Stock Performance

Shares of NASDAQ:CLFD opened at $29.77 on Friday. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $420.71 million, a price-to-earnings ratio of -47.25 and a beta of 1.28. Clearfield, Inc. has a 12 month low of $27.06 and a 12 month high of $44.83. The firm’s 50-day moving average is $34.51 and its 200 day moving average is $34.89.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) 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%. Research analysts predict that Clearfield, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CLFD. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research note on Friday, February 7th. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Clearfield currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Insiders Place Their Bets

In other Clearfield news, COO John P. Hill sold 16,539 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, the chief operating officer now directly owns 189,886 shares in the company, valued at $6,315,608.36. This represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.