JPMorgan Chase & Co. Lowers Stock Holdings in Clearfield, Inc. (NASDAQ:CLFD)

JPMorgan Chase & Co. reduced its position in Clearfield, Inc. (NASDAQ:CLFD) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,077 shares of the communications equipment provider’s stock after selling 1,129 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Clearfield worth $1,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Clearfield in the 3rd quarter worth $53,000. Truvestments Capital LLC acquired a new stake in shares of Clearfield in the 3rd quarter valued at about $80,000. Canada Pension Plan Investment Board acquired a new stake in shares of Clearfield in the 2nd quarter valued at about $85,000. SG Americas Securities LLC raised its stake in shares of Clearfield by 8.3% in the 3rd 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 in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Clearfield during the 2nd quarter valued at about $217,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Stock Up 3.0 %

CLFD stock opened at $41.12 on Friday. Clearfield, Inc. has a 12 month low of $24.99 and a 12 month high of $44.83. The firm has a market cap of $581.03 million, a PE ratio of -48.38 and a beta of 1.27. The firm has a 50 day simple moving average of $32.34 and a 200 day simple moving average of $36.09. 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 released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The business had revenue of $46.80 million during the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 earnings per share. Equities research analysts forecast that Clearfield, Inc. will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLFD has been the subject of several recent analyst reports. StockNews.com cut shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Insider Activity at Clearfield

In other news, Chairman Ronald G. Roth purchased 5,000 shares of Clearfield stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the transaction, the chairman now owns 1,266,796 shares in the company, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 17.80% of the stock is owned by insiders.

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.