Newtyn Management LLC Reduces Holdings in Clearfield, Inc. $CLFD

Key Points

• Newtyn Management LLC reduced its stake in Clearfield, Inc. by 28.2%, owning 300,000 shares after selling 117,572 shares in the first quarter.
• Clearfield has experienced multiple analyst downgrades, with Northland Securities revising its rating from "outperform" to "market perform" and setting a price target of $45.00.
• The company reported a profit of $0.11 EPS for the last quarter, exceeding analysts' expectations of $0.05, with total revenue amounting to $49.90 million.

Newtyn Management LLC trimmed its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the communications equipment provider's stock after selling 117,572 shares during the quarter. Clearfield accounts for approximately 1.4% of Newtyn Management LLC's investment portfolio, making the stock its 19th largest holding. Newtyn Management LLC owned approximately 2.12% of Clearfield worth $8,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Clearfield by 705.0% in the first quarter. US Bancorp DE now owns 966 shares of the communications equipment provider's stock valued at $29,000 after acquiring an additional 846 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Clearfield by 340.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 906 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Clearfield by 2,710.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider's stock valued at $55,000 after acquiring an additional 1,789 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Clearfield by 5,214.1% in the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock valued at $134,000 after acquiring an additional 4,432 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Clearfield by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,222 shares of the communications equipment provider's stock valued at $215,000 after acquiring an additional 312 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Clearfield Stock Down 0.8%

Shares of CLFD stock traded down $0.27 during trading hours on Wednesday, hitting $32.99. 45,621 shares of the company's stock were exchanged, compared to its average volume of 141,515. The firm has a market cap of $455.52 million, a P/E ratio of 3,295.00 and a beta of 1.70. The firm has a 50 day moving average of $38.20 and a two-hundred day moving average of $34.93. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $49.90 million during the quarter, compared to the consensus estimate of $47.58 million. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. On average, equities analysts forecast that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLFD has been the topic of several analyst reports. Roth Capital reiterated a "buy" rating on shares of Clearfield in a research note on Thursday, August 7th. Northland Securities lowered Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 target price on the stock. in a research note on Thursday, August 7th. Wall Street Zen lowered Clearfield from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Northland Capmk lowered Clearfield from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Clearfield Company 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.