Newtyn Management LLC Has $8.92 Million 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 cut its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 28.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the communications equipment provider's stock after selling 117,572 shares during the quarter. Clearfield accounts for 1.4% of Newtyn Management LLC's holdings, making the stock its 19th largest position. Newtyn Management LLC owned 2.12% of Clearfield worth $8,916,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE increased its stake in 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 during the last quarter. Tower Research Capital LLC TRC increased its stake in 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 during the last quarter. PNC Financial Services Group Inc. increased its stake in 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 during the last quarter. GAMMA Investing LLC increased its stake in 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 during the last quarter. 88.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Clearfield Stock Performance

Shares of NASDAQ:CLFD traded down $0.39 during mid-day trading on Tuesday, reaching $33.25. 77,216 shares of the company's stock were exchanged, compared to its average volume of 142,104. The firm has a market capitalization of $459.05 million, a price-to-earnings ratio of 3,325.00 and a beta of 1.70. The business's fifty day moving average price is $38.40 and its 200-day moving average price is $34.94. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The company had revenue of $49.90 million for the quarter, compared to analyst estimates of $47.58 million. Clearfield had a net margin of 0.11% and a return on equity of 0.07%. Analysts predict that Clearfield, Inc. will post -0.29 EPS 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.