Raymond James Financial Inc. Invests $721,000 in Clearfield, Inc. (NASDAQ:CLFD)

Raymond James Financial Inc. acquired a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,251 shares of the communications equipment provider's stock, valued at approximately $721,000. Raymond James Financial Inc. owned 0.16% of Clearfield as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLFD. Quantbot Technologies LP bought a new stake in shares of Clearfield in the 3rd quarter worth approximately $53,000. Janus Henderson Group PLC increased its position in Clearfield by 2.7% in the third 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 during the last quarter. Barclays PLC raised its stake in shares of Clearfield by 164.2% in the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after buying an additional 54,670 shares during the period. SG Americas Securities LLC lifted 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 during the last quarter. Finally, Drum Hill Capital LLC bought a new position in shares of Clearfield during the 4th quarter worth $1,539,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

A number of brokerages recently issued reports on CLFD. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Price Performance

CLFD traded down $0.88 during trading on Thursday, reaching $26.22. 141,358 shares of the company were exchanged, compared to its average volume of 129,543. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $44.83. The company's 50-day moving average is $30.75 and its two-hundred day moving average is $33.16. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01. The company has a market cap of $370.54 million, a price-to-earnings ratio of -41.62 and a beta of 1.51.

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

Insiders Place Their Bets

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