Royce & Associates LP Sells 31,932 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Royce & Associates LP trimmed its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,345 shares of the communications equipment provider's stock after selling 31,932 shares during the quarter. Royce & Associates LP owned approximately 3.26% of Clearfield worth $18,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Easterly Investment Partners LLC grew its holdings in Clearfield by 31.3% during the 3rd quarter. Easterly Investment Partners LLC now owns 11,632 shares of the communications equipment provider's stock worth $453,000 after acquiring an additional 2,774 shares during the period. Creative Planning grew its stake in Clearfield by 0.5% during the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider's stock worth $3,841,000 after purchasing an additional 511 shares during the period. Exchange Traded Concepts LLC bought a new stake in Clearfield in the third quarter worth approximately $300,000. SG Americas Securities LLC increased its holdings in Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider's stock worth $142,000 after purchasing an additional 279 shares in the last quarter. Finally, Select Equity Group L.P. acquired a new position in Clearfield in the second quarter valued at approximately $453,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CLFD shares. Lake Street Capital upgraded shares of Clearfield from a "hold" rating to a "buy" rating and boosted their target price for the company from $31.00 to $47.00 in a research report on Friday, August 2nd. Roth Mkm reduced their price objective on Clearfield from $47.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Clearfield in a research report on Friday, November 8th. StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Northland Securities lifted their price objective on shares of Clearfield from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Stock Down 4.6 %

NASDAQ:CLFD traded down $1.36 during trading hours on Friday, hitting $28.26. 109,926 shares of the company traded hands, compared to its average volume of 157,814. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $402.42 million, a PE ratio of -33.25 and a beta of 1.35. The firm's 50-day simple moving average is $36.93 and its 200-day simple moving average is $37.71. Clearfield, Inc. has a one year low of $24.78 and a one year high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.13. The company had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm's revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Equities analysts predict that Clearfield, Inc. will post -0.05 earnings per share for the current year.

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.