Price T Rowe Associates Inc. MD Sells 31,373 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Price T Rowe Associates Inc. MD lowered its position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 78.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,762 shares of the communications equipment provider's stock after selling 31,373 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.06% of Clearfield worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock worth $3,428,000 after buying an additional 54,670 shares in the last quarter. ACK Asset Management LLC lifted its position in shares of Clearfield by 3.6% during the 4th quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock valued at $22,320,000 after acquiring an additional 25,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Clearfield during the 4th quarter worth $721,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Clearfield during the 4th quarter worth $74,000. Finally, SG Americas Securities LLC increased its position in shares of Clearfield by 45.5% in the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after purchasing an additional 1,656 shares during the period. Institutional investors and hedge funds own 88.73% of the company's stock.

Analyst Upgrades and Downgrades

CLFD has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Clearfield in a research report on Wednesday, March 26th. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.75.

Clearfield Trading Down 2.5%

Shares of CLFD opened at $37.81 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. Clearfield, Inc. has a 52-week low of $23.78 and a 52-week high of $44.83. The firm has a market cap of $522.95 million, a price-to-earnings ratio of -60.02 and a beta of 1.61. The business's fifty day moving average is $30.35 and its 200-day moving average is $32.02.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.28. The firm had revenue of $47.17 million for the quarter, compared to analysts' expectations of $38.53 million. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Equities analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current fiscal 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.