Renaissance Technologies LLC Acquires Shares of 42,300 Clearfield, Inc. (NASDAQ:CLFD)

Renaissance Technologies LLC acquired a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,300 shares of the communications equipment provider's stock, valued at approximately $1,311,000. Renaissance Technologies LLC owned approximately 0.30% of Clearfield at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Clearfield in the 4th quarter valued at about $74,000. Quantbot Technologies LP boosted its stake in Clearfield by 261.4% in the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider's stock valued at $151,000 after acquiring an additional 3,529 shares in the last quarter. SG Americas Securities LLC grew its holdings in Clearfield by 45.5% in the fourth 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 during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Clearfield during the fourth quarter worth $233,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Clearfield by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 1,544 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Clearfield Stock Performance

Shares of CLFD stock traded up $1.37 during mid-day trading on Friday, reaching $31.15. The stock had a trading volume of 55,104 shares, compared to its average volume of 126,010. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a 1-year low of $23.78 and a 1-year high of $44.83. The firm has a market cap of $440.14 million, a price-to-earnings ratio of -49.44 and a beta of 1.61. The business's fifty day moving average is $28.93 and its 200-day moving average is $32.19.

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

Insider Activity at Clearfield

In other news, COO John P. Hill sold 16,539 shares of the business'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 completion of the transaction, the chief operating officer now owns 189,886 shares of the company's stock, valued at $6,315,608.36. The trade was a 8.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CLFD shares. StockNews.com upgraded Clearfield from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Clearfield in a report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.