XTX Topco Ltd Sells 13,761 Shares of Clearfield, Inc. (NASDAQ:CLFD)

XTX Topco Ltd decreased its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 65.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,334 shares of the communications equipment provider's stock after selling 13,761 shares during the quarter. XTX Topco Ltd owned approximately 0.05% of Clearfield worth $218,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Clearfield by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider's stock worth $1,372,000 after buying an additional 3,174 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Clearfield by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock worth $239,000 after purchasing an additional 1,544 shares during the period. Invesco Ltd. grew its stake in Clearfield by 2.5% during the fourth quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider's stock worth $470,000 after buying an additional 366 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Clearfield during the fourth quarter worth about $1,311,000. Finally, Raymond James Financial Inc. acquired a new stake in Clearfield during the fourth quarter worth about $721,000. Institutional investors and hedge funds own 88.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CLFD. Roth Capital reiterated a "buy" rating on shares of Clearfield in a research report on Thursday, August 7th. Wall Street Zen cut Clearfield from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Northland Securities cut Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 target price on the stock. in a research report on Thursday, August 7th. Finally, Northland Capmk cut Clearfield from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Clearfield currently has a consensus rating of "Hold" and an average price target of $47.50.

Clearfield Stock Performance

Shares of NASDAQ:CLFD traded down $0.12 during midday trading on Friday, hitting $31.38. 187,419 shares of the stock were exchanged, compared to its average volume of 228,296. The stock has a market capitalization of $433.36 million, a price-to-earnings ratio of 3,138.00 and a beta of 1.63. The business's 50-day moving average price is $40.90 and its 200 day moving average price is $35.13. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. The business had revenue of $49.90 million for the quarter, compared to analysts' expectations of $47.58 million. As a group, sell-side analysts expect that Clearfield, Inc. will post -0.29 EPS for the current year.

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.