23,251 Shares in Clearfield, Inc. (NASDAQ:CLFD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,251 shares of the communications equipment provider's stock, valued at approximately $721,000. Raymond James Financial Inc. owned 0.16% of Clearfield as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Clearfield in the 4th quarter worth approximately $74,000. Quantbot Technologies LP grew its stake in shares of Clearfield by 261.4% in the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock worth $151,000 after acquiring an additional 3,529 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after acquiring an additional 1,656 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Clearfield in the 4th quarter worth about $233,000. Finally, Wells Fargo & Company MN boosted its stake in Clearfield by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock worth $239,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors own 88.73% of the company's stock.

Insider Buying and Selling

In other Clearfield news, COO John P. Hill sold 16,539 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Clearfield Price Performance

Shares of NASDAQ:CLFD opened at $30.92 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. The firm has a market cap of $436.96 million, a price-to-earnings ratio of -49.08 and a beta of 1.61. The business has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $32.02. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. On average, analysts expect that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CLFD. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.

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