Renaissance Technologies LLC acquired a new stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,300 shares of the communications equipment provider's stock, valued at approximately $1,311,000. Renaissance Technologies LLC owned 0.30% of Clearfield as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Clearfield in the 4th quarter valued at approximately $74,000. Quantbot Technologies LP grew its position in Clearfield by 261.4% in the 4th quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock valued at $151,000 after buying an additional 3,529 shares during the last quarter. SG Americas Securities LLC increased its stake in Clearfield by 45.5% in 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 period. Sequoia Financial Advisors LLC acquired a new position in Clearfield in the 4th quarter valued at $233,000. Finally, Wells Fargo & Company MN raised its position in Clearfield by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock worth $239,000 after buying an additional 1,544 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Clearfield
In related news, COO John P. Hill sold 16,539 shares of the business'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 sale, the chief operating officer now directly owns 189,886 shares in the company, valued at $6,315,608.36. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
CLFD has been the topic of several analyst reports. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a report on Wednesday, March 26th. One investment 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.75.
Check Out Our Latest Analysis on CLFD
Clearfield Stock Performance
Shares of CLFD opened at $29.23 on Tuesday. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $44.83. The company has a 50-day simple moving average of $29.10 and a 200-day simple moving average of $32.28. The company has a market capitalization of $413.08 million, a PE ratio of -46.40 and a beta of 1.51.
Clearfield (NASDAQ:CLFD - Get Free Report) last issued 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 net margin of 5.41% and a negative return on equity of 3.31%. Equities research analysts predict that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.
Clearfield Profile
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Free Report)
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.
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