Cubist Systematic Strategies LLC Invests $710,000 in Clearfield, Inc. (NASDAQ:CLFD)

Cubist Systematic Strategies LLC purchased a new position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,914 shares of the communications equipment provider's stock, valued at approximately $710,000. Cubist Systematic Strategies LLC owned about 0.16% of Clearfield at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. ACK Asset Management LLC lifted its holdings in shares of Clearfield by 3.6% during the fourth quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock worth $22,320,000 after buying an additional 25,000 shares in the last quarter. Royce & Associates LP increased its position in Clearfield by 3.1% during the fourth quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider's stock worth $14,843,000 after acquiring an additional 14,464 shares during the period. Dimensional Fund Advisors LP increased its position in Clearfield by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock worth $9,994,000 after acquiring an additional 48,730 shares during the period. Marshall Wace LLP raised its stake in Clearfield by 13.1% in the 4th quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider's stock worth $5,418,000 after purchasing an additional 20,269 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Clearfield by 9.1% in the 4th quarter. Northern Trust Corp now owns 125,677 shares of the communications equipment provider's stock valued at $3,896,000 after purchasing an additional 10,476 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CLFD shares. StockNews.com raised Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Clearfield in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Price Performance

NASDAQ:CLFD traded down $0.12 on Friday, hitting $38.85. The company had a trading volume of 245,578 shares, compared to its average volume of 123,131. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $44.83. 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 stock has a market capitalization of $537.33 million, a price-to-earnings ratio of -61.67 and a beta of 1.61. The firm has a 50 day moving average of $29.77 and a two-hundred day moving average of $31.94.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.28. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. The firm had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. On average, research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current year.

Clearfield Profile

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.