Punch & Associates Investment Management Inc. Decreases Stock Holdings in Clearfield, Inc. $CLFD

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Clearfield, Inc. by 30.9%, selling 79,000 shares and retaining 177,000 shares worth approximately $5.26 million.
• The stock's performance shows a 52-week range between $23.78 and $46.76, with Clearfield reporting quarterly earnings of $0.11 per share, surpassing estimates.
• Several research firms adjusted their ratings on Clearfield, with Northland Capital downgrading it from "strong-buy" to "hold," while Roth Capital maintained a "buy" rating.

Punch & Associates Investment Management Inc. lessened its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,000 shares of the communications equipment provider's stock after selling 79,000 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.25% of Clearfield worth $5,260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. US Bancorp DE lifted its holdings in shares of Clearfield by 705.0% during the first quarter. US Bancorp DE now owns 966 shares of the communications equipment provider's stock valued at $29,000 after purchasing an additional 846 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Clearfield by 340.6% during 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in Clearfield by 2,710.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,855 shares of the communications equipment provider's stock worth $55,000 after acquiring an additional 1,789 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Clearfield by 5,214.1% during 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Clearfield by 4.5% during 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 period. 88.73% of the stock is currently owned by institutional investors.

Clearfield Stock Performance

Clearfield stock traded up $0.97 during midday trading on Thursday, hitting $34.01. 170,735 shares of the company's stock were exchanged, compared to its average volume of 141,996. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $46.76. The firm's 50 day simple moving average is $37.99 and its 200 day simple moving average is $34.92. The stock has a market cap of $469.68 million, a price-to-earnings ratio of 3,401.00 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on CLFD shares. Roth Capital reiterated a "buy" rating on shares of Clearfield in a research report on Thursday, August 7th. Northland Capmk lowered Clearfield from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, 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 report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Clearfield presently 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.