Franklin Resources Inc. Lowers Stake in Clearfield, Inc. (NASDAQ:CLFD)

Franklin Resources Inc. lessened its stake in Clearfield, Inc. (NASDAQ:CLFD) by 16.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,977 shares of the communications equipment provider’s stock after selling 1,522 shares during the period. Franklin Resources Inc. owned about 0.06% of Clearfield worth $288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Clearfield during the 3rd quarter worth approximately $53,000. Redwood Wealth Management Group LLC acquired a new position in shares of Clearfield in the second quarter worth $75,000. Truvestments Capital LLC purchased a new stake in shares of Clearfield during the third quarter worth $80,000. Canada Pension Plan Investment Board acquired a new stake in shares of Clearfield in the second quarter valued at $85,000. Finally, SG Americas Securities LLC boosted its holdings in Clearfield by 8.3% in the third quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CLFD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. StockNews.com downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Insider Buying and Selling at Clearfield

In other news, Chairman Ronald G. Roth purchased 5,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $31.00 per share, for a total transaction of $155,000.00. Following the acquisition, the chairman now owns 1,266,796 shares of the company’s stock, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 16.00% of the stock is owned by corporate insiders.

Clearfield Stock Performance

Shares of CLFD opened at $31.00 on Thursday. Clearfield, Inc. has a 12-month low of $24.78 and a 12-month high of $44.83. The stock has a market cap of $442.96 million, a P/E ratio of -36.47 and a beta of 1.28. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $32.19 and a two-hundred day moving average of $36.27.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating 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 analyst estimates of $41.95 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. As a group, research analysts predict that Clearfield, Inc. will post -0.16 EPS for the current fiscal year.

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.