Squarepoint Ops LLC Makes New Investment in Clearfield, Inc. (NASDAQ:CLFD)

Squarepoint Ops LLC purchased a new position in Clearfield, Inc. (NASDAQ:CLFD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,628 shares of the communications equipment provider’s stock, valued at approximately $217,000.

Other hedge funds have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in shares of 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 buying an additional 405 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Clearfield by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock valued at $233,000 after acquiring an additional 510 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Clearfield by 2.3% in the first quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock valued at $1,047,000 after acquiring an additional 777 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Clearfield in the second quarter worth about $75,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Clearfield during the second quarter worth about $85,000. 88.73% of the stock is currently owned by institutional investors.

Clearfield Stock Up 1.4 %

Shares of CLFD opened at $36.00 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. The stock has a market capitalization of $512.39 million, a price-to-earnings ratio of -144.00 and a beta of 1.34. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $44.83. The business’s 50 day simple moving average is $37.97 and its 200-day simple moving average is $36.72.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The company had revenue of $48.79 million for the quarter, compared to the consensus estimate of $42.13 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Clearfield’s revenue was down 20.4% on a year-over-year basis. As a group, equities analysts expect that Clearfield, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Tuesday, September 24th. Roth Mkm reduced their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded shares of Clearfield to a “sell” rating in a research report on Monday, August 5th. Northland Securities raised their target price on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Lake Street Capital upgraded shares of Clearfield from a “hold” rating to a “buy” rating and boosted their price target for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.75.

Insider Activity

In related news, Director Walter Louis Jones, Jr. acquired 1,324 shares of Clearfield stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $37.77 per share, with a total value of $50,007.48. Following the completion of the purchase, the director now directly owns 6,061 shares of the company’s stock, valued at $228,923.97. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 16.00% 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.