Charles Schwab Investment Management Inc. Sells 6,091 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Charles Schwab Investment Management Inc. trimmed its position in Clearfield, Inc. (NASDAQ:CLFD) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,535 shares of the communications equipment provider’s stock after selling 6,091 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Clearfield worth $2,838,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Clearfield during the third quarter valued at approximately $53,000. Janus Henderson Group PLC grew its position in Clearfield by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock valued at $1,171,000 after purchasing an additional 794 shares during the period. Barclays PLC increased its stake in Clearfield by 164.2% during the 3rd 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. SG Americas Securities LLC raised its holdings in Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock worth $164,000 after buying an additional 1,656 shares during the last quarter. Finally, Drum Hill Capital LLC bought a new position in shares of Clearfield in the fourth quarter valued at $1,539,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Clearfield Stock Performance

NASDAQ CLFD opened at $30.53 on Friday. The company has a fifty day moving average price of $33.34 and a 200-day moving average price of $34.14. The firm has a market cap of $431.45 million, a price-to-earnings ratio of -48.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. Clearfield, Inc. has a 1 year low of $26.94 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. As a group, equities research analysts predict that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Clearfield

In related news, COO John P. Hill sold 16,539 shares of the stock in a transaction dated Wednesday, February 12th. The shares were 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 owns 189,886 shares in the company, valued at approximately $6,315,608.36. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.80% 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.