PDT Partners LLC Reduces Position in Clearfield, Inc. (NASDAQ:CLFD)

PDT Partners LLC decreased its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 45.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,524 shares of the communications equipment provider’s stock after selling 5,391 shares during the quarter. PDT Partners LLC’s holdings in Clearfield were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Clearfield by 8.3% during the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock worth $142,000 after buying an additional 279 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Clearfield by 2.7% during the second quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock worth $598,000 after buying an additional 405 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Clearfield by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after purchasing an additional 510 shares during the period. Creative Planning grew its position in shares of Clearfield by 0.5% in the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock valued at $3,841,000 after purchasing an additional 511 shares during the period. Finally, Bard Associates Inc. grew its position in shares of Clearfield by 6.5% in 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. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CLFD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research report on Friday, November 8th. StockNews.com downgraded Clearfield from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearfield has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Price Performance

Shares of Clearfield stock opened at $31.25 on Wednesday. Clearfield, Inc. has a twelve month low of $24.78 and a twelve month high of $44.83. The stock has a market capitalization of $446.56 million, a P/E ratio of -36.76 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. The business’s fifty day moving average price is $34.74 and its 200 day moving average price is $37.29.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating 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 firm had revenue of $46.80 million for the quarter, compared to analysts’ expectations of $41.95 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, research analysts anticipate that Clearfield, Inc. will post -0.05 earnings per share for the current year.

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.