Barclays PLC Grows Position in Clearfield, Inc. (NASDAQ:CLFD)

Barclays PLC grew its stake in Clearfield, Inc. (NASDAQ:CLFD) by 164.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,971 shares of the communications equipment provider’s stock after buying an additional 54,670 shares during the period. Barclays PLC owned 0.62% of Clearfield worth $3,428,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Clearfield in the 3rd quarter worth $53,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Clearfield during the second quarter worth about $75,000. Truvestments Capital LLC acquired a new stake in shares of Clearfield during the third quarter worth about $80,000. Canada Pension Plan Investment Board acquired a new position in Clearfield in the 2nd quarter worth approximately $85,000. Finally, SG Americas Securities LLC acquired a new position in Clearfield in the 2nd quarter worth approximately $130,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Stock Performance

CLFD opened at $30.43 on Tuesday. The firm has a fifty day moving average price of $33.21 and a 200 day moving average price of $36.73. Clearfield, Inc. has a 1 year low of $24.78 and a 1 year high of $44.83. The stock has a market cap of $434.81 million, a P/E ratio of -35.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.43 and a quick ratio of 6.69.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $41.95 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Clearfield, Inc. will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

CLFD has been the topic of several recent research reports. StockNews.com downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a report on Saturday, December 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Insiders Place Their Bets

In related news, Chairman Ronald G. Roth bought 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was bought at an average price of $31.00 per share, with a total value of $155,000.00. Following the completion of the purchase, the chairman now directly owns 1,266,796 shares in the company, valued at $39,270,676. This represents a 0.40 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is currently owned by company insiders.

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.