Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by PDT Partners LLC

PDT Partners LLC trimmed its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 45.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after acquiring an additional 14,307 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Clearfield in the 2nd quarter valued at approximately $835,000. Creative Planning lifted its holdings in shares of Clearfield by 2.5% in the 2nd quarter. Creative Planning now owns 98,088 shares of the communications equipment provider’s stock valued at $3,782,000 after buying an additional 2,426 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Clearfield by 83.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock valued at $8,798,000 after buying an additional 103,648 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings 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 valued at $9,704,000 after buying an additional 27,178 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLFD has been the subject of several recent analyst reports. StockNews.com cut Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Stock Performance

NASDAQ CLFD opened at $31.25 on Wednesday. Clearfield, Inc. has a 1-year low of $24.78 and a 1-year high of $44.83. The company has a market capitalization of $446.56 million, a P/E ratio of -36.76 and a beta of 1.28. The business has a 50 day moving average price of $34.74 and a 200 day moving average price of $37.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $41.95 million. During the same period last year, the business posted $0.17 EPS. Clearfield’s quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts expect that Clearfield, Inc. will post -0.05 EPS for the current fiscal 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.