Clearfield, Inc. (NASDAQ:CLFD) Position Lowered by Jane Street Group LLC

Jane Street Group LLC trimmed its stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 38.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,623 shares of the communications equipment provider's stock after selling 17,433 shares during the quarter. Jane Street Group LLC owned approximately 0.19% of Clearfield worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CLFD. Quantbot Technologies LP acquired a new position in shares of Clearfield during the 3rd quarter valued at about $53,000. Redwood Wealth Management Group LLC acquired a new position in Clearfield during the second quarter worth approximately $75,000. Truvestments Capital LLC purchased a new position in Clearfield during the third quarter worth approximately $80,000. Canada Pension Plan Investment Board acquired a new position in shares of Clearfield in the 2nd quarter valued at $85,000. Finally, SG Americas Securities LLC grew its stake in shares of Clearfield by 8.3% during the 3rd 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 period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Ronald G. Roth purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $31.00 per share, with a total value of $155,000.00. Following the purchase, the chairman now directly owns 1,266,796 shares of the company's stock, valued at approximately $39,270,676. This represents a 0.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

Clearfield Stock Down 0.7 %

Clearfield stock traded down $0.23 during trading on Tuesday, reaching $31.00. 83,925 shares of the company's stock were exchanged, compared to its average volume of 152,993. Clearfield, Inc. has a 52-week low of $24.78 and a 52-week high of $44.83. The firm has a market cap of $442.96 million, a price-to-earnings ratio of -36.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The company's 50-day moving average is $32.31 and its two-hundred day moving average is $36.30.

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

Analyst Ratings Changes

CLFD has been the topic of a number of research analyst reports. StockNews.com cut Clearfield from a "hold" rating to a "sell" rating in a report on Saturday, December 14th. 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $46.75.

About Clearfield

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.