Crawford Fund Management LLC Sells 32,375 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Crawford Fund Management LLC trimmed its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 38.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,988 shares of the communications equipment provider's stock after selling 32,375 shares during the quarter. Clearfield makes up about 0.4% of Crawford Fund Management LLC's portfolio, making the stock its 26th largest holding. Crawford Fund Management LLC owned about 0.36% of Clearfield worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider's stock worth $31,223,000 after purchasing an additional 14,307 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Clearfield in the 2nd quarter valued at approximately $835,000. Creative Planning increased its position in Clearfield by 2.5% in the 2nd quarter. Creative Planning now owns 98,088 shares of the communications equipment provider's stock valued at $3,782,000 after acquiring an additional 2,426 shares during the period. Dimensional Fund Advisors LP increased its position in Clearfield by 83.2% in the 2nd 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. Finally, Segall Bryant & Hamill LLC increased its position 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 valued at $9,704,000 after acquiring an additional 27,178 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CLFD. Roth Mkm decreased their price target on shares of Clearfield from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Northland Securities upped their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a research note on Friday, November 8th. StockNews.com lowered shares of Clearfield from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Lake Street Capital raised shares of Clearfield from a "hold" rating to a "buy" rating and upped their price objective for the company from $31.00 to $47.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Trading Up 2.1 %

Shares of NASDAQ:CLFD traded up $0.62 during trading on Friday, reaching $30.60. The stock had a trading volume of 66,111 shares, compared to its average volume of 157,190. The firm's fifty day moving average is $35.24 and its 200 day moving average is $37.40. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 52 week low of $24.78 and a 52 week high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. The business 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%. Clearfield's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, equities research analysts forecast that Clearfield, Inc. will post -0.05 earnings per share for the current fiscal 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.