Nordea Investment Management AB Purchases 72,164 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Nordea Investment Management AB lifted its position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 172.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,904 shares of the communications equipment provider's stock after buying an additional 72,164 shares during the quarter. Nordea Investment Management AB owned about 0.77% of Clearfield worth $3,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Smith Graham & Co. Investment Advisors LP bought a new stake in Clearfield during the fourth quarter valued at about $5,148,000. Federated Hermes Inc. boosted its stake in Clearfield by 1,247.7% during the 4th quarter. Federated Hermes Inc. now owns 210,717 shares of the communications equipment provider's stock valued at $6,128,000 after purchasing an additional 195,082 shares during the period. Harber Asset Management LLC acquired a new stake in Clearfield in the 4th quarter valued at approximately $4,310,000. Boston Partners increased its position in Clearfield by 122.2% in the 4th quarter. Boston Partners now owns 830,783 shares of the communications equipment provider's stock worth $23,784,000 after buying an additional 456,879 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new position in Clearfield in the 4th quarter worth approximately $349,000. 88.73% of the stock is owned by institutional investors.

Insider Transactions at Clearfield

In related news, Chairman Ronald G. Roth acquired 2,000 shares of the business's stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $36.40 per share, with a total value of $72,800.00. Following the completion of the acquisition, the chairman now owns 1,261,796 shares in the company, valued at $45,929,374.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Clearfield to a "sell" rating in a research note on Friday, June 21st. Northland Securities upgraded shares of Clearfield from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $25.00 to $40.00 in a research report on Friday, May 3rd. Roth Mkm reaffirmed a "buy" rating and set a $47.00 price objective on shares of Clearfield in a research report on Wednesday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $42.00 target price on shares of Clearfield in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Clearfield currently has an average rating of "Hold" and a consensus target price of $43.50.

Clearfield Stock Up 1.7 %

Clearfield stock traded up $0.62 on Wednesday, hitting $38.06. The company's stock had a trading volume of 73,593 shares, compared to its average volume of 187,322. Clearfield, Inc. has a one year low of $22.91 and a one year high of $49.64. The firm has a market cap of $541.59 million, a P/E ratio of -149.76 and a beta of 1.39. The company has a fifty day moving average price of $37.47 and a 200-day moving average price of $31.95.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.13. The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $31.25 million. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. The firm's revenue was down 43.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. Analysts anticipate that Clearfield, Inc. will post -1.26 EPS 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.