51,419 Shares in Clearfield, Inc. (NASDAQ:CLFD) Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL acquired a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 51,419 shares of the communications equipment provider's stock, valued at approximately $1,594,000. Tudor Investment Corp ET AL owned about 0.36% of Clearfield as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after purchasing an additional 54,670 shares in the last quarter. ACK Asset Management LLC boosted its holdings 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 last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Clearfield in the fourth quarter worth approximately $74,000. SG Americas Securities LLC raised its stake in Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock valued at $164,000 after buying an additional 1,656 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Clearfield during the 4th quarter valued at $721,000. 88.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Clearfield Price Performance

Shares of CLFD traded up $2.43 during mid-day trading on Friday, reaching $34.25. The stock had a trading volume of 290,284 shares, compared to its average volume of 121,482. The business has a fifty day moving average of $28.82 and a 200 day moving average of $31.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. The firm has a market cap of $484.02 million, a price-to-earnings ratio of -54.37 and a beta of 1.61. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month high of $44.83.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted 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 return on equity of 3.31% and a negative net margin of 5.41%. Equities analysts predict that Clearfield, Inc. will post -0.29 EPS for the current year.

Insider Activity

In related news, COO John P. Hill sold 16,539 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the transaction, the chief operating officer now directly owns 189,886 shares of the company's stock, valued at approximately $6,315,608.36. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.80% of the company's stock.

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.