Skylands Capital LLC Grows Stock Position in Clearfield, Inc. (NASDAQ:CLFD)

Skylands Capital LLC increased its holdings in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 47.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,757 shares of the communications equipment provider's stock after buying an additional 9,957 shares during the period. Skylands Capital LLC owned 0.22% of Clearfield worth $914,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CLFD. Sequoia Financial Advisors LLC increased its stake in Clearfield by 199.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 22,501 shares of the communications equipment provider's stock worth $669,000 after acquiring an additional 14,996 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Clearfield by 5,214.1% in the first quarter. GAMMA Investing LLC now owns 4,517 shares of the communications equipment provider's stock worth $134,000 after purchasing an additional 4,432 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Clearfield by 3.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,488 shares of the communications equipment provider's stock worth $821,000 after purchasing an additional 960 shares during the last quarter. Wolverine Trading LLC raised its stake in Clearfield by 56.9% in the fourth quarter. Wolverine Trading LLC now owns 10,828 shares of the communications equipment provider's stock valued at $338,000 after purchasing an additional 3,928 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Clearfield during the fourth quarter valued at approximately $795,000. Institutional investors own 88.73% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Clearfield in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Clearfield Stock Up 2.0%

Shares of Clearfield stock traded up $0.88 during trading on Wednesday, hitting $43.92. 96,208 shares of the stock traded hands, compared to its average volume of 121,428. The firm's fifty day moving average is $36.88 and its 200-day moving average is $33.61. The stock has a market cap of $607.41 million, a price-to-earnings ratio of -313.71 and a beta of 1.71. Clearfield, Inc. has a 52 week low of $23.78 and a 52 week high of $45.00.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The business had revenue of $47.17 million for the quarter, compared to analysts' expectations of $38.53 million. Clearfield had a negative net margin of 1.04% and a negative return on equity of 0.68%. On average, analysts forecast that Clearfield, Inc. will post -0.29 earnings per share 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.