Select Equity Group L.P. Increases Holdings in Clearfield, Inc. $CLFD

Select Equity Group L.P. increased its holdings in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 770.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,304 shares of the communications equipment provider's stock after buying an additional 156,044 shares during the period. Select Equity Group L.P. owned 1.25% of Clearfield worth $5,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Clearfield in the fourth quarter worth $765,000. Graham Capital Management L.P. purchased a new stake in Clearfield during the fourth quarter valued at about $254,000. GAMMA Investing LLC raised its position 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. Tower Research Capital LLC TRC raised 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. Finally, Vanguard Group Inc. raised its position in Clearfield by 0.8% during the first quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider's stock valued at $28,295,000 after purchasing an additional 7,919 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLFD. Northland Securities downgraded Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price target on the stock. in a research report on Thursday, August 7th. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Roth Capital restated a "buy" rating on shares of Clearfield in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Clearfield Stock Down 3.6%

Shares of CLFD traded down $1.21 during trading hours on Friday, hitting $32.80. The company had a trading volume of 106,074 shares, compared to its average volume of 145,220. The firm has a market cap of $452.97 million, a P/E ratio of 3,280.00 and a beta of 1.70. The stock's 50 day moving average price is $37.55 and its 200 day moving average price is $34.95. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $46.76.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, topping 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%. On average, research analysts expect that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

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.