WCM Investment Management CA lifted its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 275.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 200,015 shares of the communications equipment provider’s stock after purchasing an additional 146,744 shares during the period. WCM Investment Management CA owned about 1.43% of Clearfield worth $2,720,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in CLFD. Dimensional Fund Advisors LP grew its holdings in shares of Clearfield by 22.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,595 shares of the communications equipment provider’s stock valued at $5,222,000 after purchasing an additional 71,307 shares during the last quarter. Vanguard Group Inc. grew its holdings in Clearfield by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock worth $7,363,000 after acquiring an additional 50,391 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Clearfield by 8.9% in the 1st quarter. Renaissance Technologies LLC now owns 517,286 shares of the communications equipment provider’s stock worth $8,509,000 after acquiring an additional 42,087 shares during the last quarter. Worth Venture Partners LLC bought a new stake in Clearfield in the 2nd quarter worth $353,000. Finally, Sei Investments Co. bought a new stake in Clearfield in the 3rd quarter worth $272,000. 28.31% of the stock is currently owned by institutional investors.
Shares of Clearfield, Inc. (NASDAQ CLFD) traded up $0.05 during trading on Tuesday, reaching $12.45. 16,500 shares of the company’s stock were exchanged, compared to its average volume of 54,610. The company has a market cap of $172.79, a price-to-earnings ratio of 44.29 and a beta of 1.26. Clearfield, Inc. has a 1-year low of $11.00 and a 1-year high of $21.60.
Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $18.42 million for the quarter, compared to analyst estimates of $19.50 million. Clearfield had a net margin of 5.20% and a return on equity of 5.94%. analysts anticipate that Clearfield, Inc. will post 0.35 earnings per share for the current year.
CLFD has been the topic of a number of recent analyst reports. Northland Securities set a $15.00 price target on shares of Clearfield and gave the stock a “buy” rating in a report on Saturday, July 29th. Lake Street Capital raised their price target on shares of Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Investment Research raised shares of Clearfield from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th.
Clearfield Company Profile
Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
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