Federated Hermes Inc. Trims Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Key Points

• Federated Hermes Inc. significantly reduced its stake in Clearfield, Inc. by 93.4%, selling 154,741 shares during Q1, leaving it with approximately 10,913 shares valued at $324,000.
• Several institutional investors have increased their stakes, including Tower Research Capital, which raised its position by 340.6% during the fourth quarter.
• Clearfield reported an earnings per share (EPS) of $0.11, surpassing expectations, with analysts currently giving the stock a consensus rating of "Hold."

Federated Hermes Inc. decreased its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 93.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,913 shares of the communications equipment provider's stock after selling 154,741 shares during the quarter. Federated Hermes Inc. owned about 0.08% of Clearfield worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position 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 purchasing an additional 906 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Clearfield in the fourth quarter valued at $74,000. GAMMA Investing LLC raised its position 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 purchasing an additional 4,432 shares during the period. Wells Fargo & Company MN raised its position in Clearfield by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider's stock valued at $239,000 after purchasing an additional 1,544 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in Clearfield in the fourth quarter valued at $254,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Clearfield Trading Down 1.4%

CLFD stock opened at $32.79 on Friday. The company has a market capitalization of $453.49 million, a PE ratio of 3,279.00 and a beta of 1.63. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $46.76. The business's fifty day moving average price is $41.49 and its 200 day moving average price is $35.34.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $49.90 million for 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%. Research analysts predict that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Roth Capital restated a "buy" rating on shares of Clearfield in a research report on Thursday. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Northland Securities downgraded 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Clearfield currently has a consensus rating of "Hold" and an average target price of $47.50.

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.

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