ExodusPoint Capital Management LP Invests $585,000 in Clearfield, Inc. (NASDAQ:CLFD)

ExodusPoint Capital Management LP acquired a new stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,885 shares of the communications equipment provider's stock, valued at approximately $585,000. ExodusPoint Capital Management LP owned 0.13% of Clearfield at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CLFD. Trexquant Investment LP grew its position in Clearfield by 26.5% during the fourth quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider's stock worth $296,000 after buying an additional 1,997 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Clearfield by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider's stock valued at $1,372,000 after purchasing an additional 3,174 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Clearfield during the fourth quarter valued at approximately $74,000. American Century Companies Inc. increased its holdings in shares of Clearfield by 11.1% in the 4th quarter. American Century Companies Inc. now owns 23,514 shares of the communications equipment provider's stock worth $729,000 after buying an additional 2,344 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Clearfield by 261.4% during 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 in the last quarter. 88.73% of the stock is owned by institutional investors.

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Insider Activity at Clearfield

In related news, COO John P. Hill sold 16,539 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $6,315,608.36. This represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Clearfield Stock Up 1.1 %

Shares of CLFD stock traded up $0.30 during midday trading on Tuesday, reaching $26.81. 80,891 shares of the stock were exchanged, compared to its average volume of 129,242. Clearfield, Inc. has a 1 year low of $23.78 and a 1 year high of $44.83. The firm has a market cap of $378.88 million, a PE ratio of -42.56 and a beta of 1.51. The company's 50 day moving average is $30.36 and its two-hundred day moving average is $32.96. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 3.31% and a negative net margin of 5.41%. On average, equities research analysts predict that Clearfield, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on CLFD shares. StockNews.com raised Clearfield from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Clearfield 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.