Skylands Capital LLC Invests $645,000 in Clearfield, Inc. (NASDAQ:CLFD)

Skylands Capital LLC purchased a new position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,800 shares of the communications equipment provider's stock, valued at approximately $645,000. Skylands Capital LLC owned 0.15% of Clearfield at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Segall Bryant & Hamill LLC lifted its stake in shares of Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider's stock worth $9,704,000 after acquiring an additional 27,178 shares during the period. Barclays PLC lifted its holdings in shares of Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after buying an additional 54,670 shares during the period. SG Americas Securities LLC boosted its position in shares of Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after purchasing an additional 1,656 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Clearfield by 2.7% in the third quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider's stock valued at $1,171,000 after buying an additional 794 shares in the last quarter. Finally, Bard Associates Inc. raised its holdings in Clearfield by 6.5% during the third quarter. Bard Associates Inc. now owns 12,220 shares of the communications equipment provider's stock worth $476,000 after purchasing an additional 741 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Clearfield Stock Down 0.6 %

NASDAQ:CLFD traded down $0.18 on Thursday, reaching $32.48. The stock had a trading volume of 100,577 shares, compared to its average volume of 126,831. Clearfield, Inc. has a 12-month low of $27.06 and a 12-month high of $44.83. The stock has a market cap of $459.01 million, a P/E ratio of -51.56 and a beta of 1.28. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $34.44 and a 200 day moving average of $35.16.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating 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, research analysts predict that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

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 transaction of $550,087.14. Following the sale, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the completion of the purchase, the chairman now directly owns 1,266,796 shares of the company's stock, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 17.80% of the company's stock.

Analysts Set New Price Targets

CLFD has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Clearfield in a report on Friday, February 7th. StockNews.com upgraded Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.