22,914 Shares in Clearfield, Inc. (NASDAQ:CLFD) Acquired by Cubist Systematic Strategies LLC

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Clearfield by 164.2% in the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after purchasing an additional 54,670 shares during the last quarter. SG Americas Securities LLC raised its holdings in Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after buying an additional 1,656 shares during the period. Drum Hill Capital LLC bought a new stake in Clearfield in the fourth quarter worth $1,539,000. Skylands Capital LLC purchased a new position in Clearfield during the fourth quarter worth $645,000. Finally, Raymond James Financial Inc. bought a new position in Clearfield during the fourth quarter valued at $721,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CLFD shares. StockNews.com upgraded shares of Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have assigned 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 price target of $46.75.

Clearfield Trading Down 1.7%

CLFD stock traded down $0.68 during trading on Tuesday, hitting $38.35. The company had a trading volume of 17,258 shares, compared to its average volume of 122,916. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $44.83. The company has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $31.93. The firm has a market capitalization of $530.42 million, a P/E ratio of -60.87 and a beta of 1.61. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01.

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