Clearfield, Inc. (NASDAQ:CLFD) COO Sells $550,087.14 in Stock

Clearfield, Inc. (NASDAQ:CLFD - Get Free Report) COO John P. Hill sold 16,539 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. The trade was a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Clearfield Trading Down 0.5 %

Shares of NASDAQ CLFD traded down $0.16 during trading hours on Tuesday, hitting $32.43. 5,519 shares of the company traded hands, compared to its average volume of 130,830. The company's 50 day moving average price is $34.42 and its 200 day moving average price is $35.44. Clearfield, Inc. has a 12 month low of $27.06 and a 12 month high of $44.83. The stock has a market capitalization of $458.24 million, a price-to-earnings ratio of -51.48 and a beta of 1.28. 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 (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 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 3.29%. On average, equities research analysts anticipate that Clearfield, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CLFD. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Clearfield in a research report on Friday, February 7th. StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

Institutional Trading of Clearfield

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLFD. SG Americas Securities LLC grew its stake in shares of Clearfield by 8.3% during the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider's stock valued at $142,000 after buying an additional 279 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Clearfield in the 3rd quarter valued at $300,000. Creative Planning increased its stake in Clearfield by 0.5% in 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. Easterly Investment Partners LLC lifted its position in shares of Clearfield by 31.3% during the third quarter. Easterly Investment Partners LLC now owns 11,632 shares of the communications equipment provider's stock worth $453,000 after purchasing an additional 2,774 shares during the last quarter. Finally, Bard Associates Inc. boosted its stake in shares of Clearfield by 6.5% during the third quarter. Bard Associates Inc. now owns 12,220 shares of the communications equipment provider's stock valued at $476,000 after purchasing an additional 741 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

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.