Barclays PLC Increases Stock Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Barclays PLC boosted its stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 164.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,971 shares of the communications equipment provider's stock after purchasing an additional 54,670 shares during the period. Barclays PLC owned about 0.62% of Clearfield worth $3,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in Clearfield in the 2nd quarter worth about $835,000. Creative Planning boosted its position in shares of Clearfield by 2.5% in the second quarter. Creative Planning now owns 98,088 shares of the communications equipment provider's stock worth $3,782,000 after purchasing an additional 2,426 shares during the period. Dimensional Fund Advisors LP raised its holdings in 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 during the period. Segall Bryant & Hamill LLC lifted its holdings in Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider's stock worth $9,704,000 after purchasing an additional 27,178 shares in the last quarter. Finally, Select Equity Group L.P. purchased a new position in Clearfield during the second quarter valued at $453,000. 88.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Ronald G. Roth bought 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was bought at an average price of $31.00 per share, with a total value of $155,000.00. Following the completion of the purchase, the chairman now directly owns 1,266,796 shares in the company, valued at $39,270,676. This represents a 0.40 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.00% of the company's stock.

Clearfield Price Performance

Shares of NASDAQ CLFD traded up $0.90 during midday trading on Tuesday, hitting $31.33. The stock had a trading volume of 66,262 shares, compared to its average volume of 154,090. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 1 year low of $24.78 and a 1 year high of $44.83. The company has a market capitalization of $447.67 million, a PE ratio of -36.86 and a beta of 1.28. The stock has a 50 day simple moving average of $33.10 and a 200-day simple moving average of $36.66.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The company had revenue of $46.80 million during the quarter, compared to the consensus estimate of $41.95 million. During the same quarter in the prior year, the firm earned $0.17 EPS. Clearfield's quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts expect that Clearfield, Inc. will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CLFD. StockNews.com cut shares of Clearfield from a "hold" rating to a "sell" rating in a research report on Saturday, December 14th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Clearfield presently has an average rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Company Profile

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.