Shaker Investments LLC OH Has $1.31 Million Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Shaker Investments LLC OH lifted its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 33.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,843 shares of the communications equipment provider’s stock after acquiring an additional 8,388 shares during the period. Shaker Investments LLC OH owned approximately 0.24% of Clearfield worth $1,305,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CLFD. Bank of New York Mellon Corp lifted its holdings in shares of Clearfield by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 61,205 shares of the communications equipment provider’s stock worth $2,360,000 after acquiring an additional 6,539 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Clearfield by 2.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 15,503 shares of the communications equipment provider’s stock valued at $598,000 after purchasing an additional 405 shares during the period. SG Americas Securities LLC acquired a new stake in Clearfield during the 2nd quarter valued at approximately $130,000. Moody National Bank Trust Division acquired a new stake in shares of Clearfield during the 2nd quarter worth approximately $252,000. Finally, Janus Henderson Group PLC grew its position in shares of Clearfield by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock worth $1,047,000 after buying an additional 777 shares during the period. Institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CLFD. Needham & Company LLC increased their target price on Clearfield from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Northland Securities lifted their target price on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Roth Mkm decreased their price objective on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $47.00 in a report on Friday, August 2nd. Finally, StockNews.com raised Clearfield to a “sell” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Price Performance

CLFD stock traded down $0.39 during midday trading on Monday, hitting $37.46. The stock had a trading volume of 75,394 shares, compared to its average volume of 174,941. The firm has a market cap of $533.17 million, a price-to-earnings ratio of -149.84 and a beta of 1.39. The business has a 50-day moving average of $39.00 and a two-hundred day moving average of $34.86. Clearfield, Inc. has a 52-week low of $22.91 and a 52-week high of $44.83.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.30. Clearfield had a negative return on equity of 3.00% and a negative net margin of 5.26%. The firm had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 20.4% on a year-over-year basis. Research analysts predict that Clearfield, Inc. will post -1.26 earnings per share for the current year.

Insiders Place Their Bets

In other Clearfield news, Director Walter Louis Jones, Jr. bought 1,324 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $37.77 per share, with a total value of $50,007.48. Following the purchase, the director now owns 6,061 shares of the company’s stock, valued at $228,923.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.00% of the company’s stock.

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.