Semanteon Capital Management LP Sells 712 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Semanteon Capital Management LP cut its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,564 shares of the communications equipment provider’s stock after selling 712 shares during the period. Semanteon Capital Management LP owned approximately 0.20% of Clearfield worth $1,113,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Creative Planning grew its holdings in shares of Clearfield by 0.5% in the third quarter. Creative Planning now owns 98,599 shares of the communications equipment provider’s stock worth $3,841,000 after purchasing an additional 511 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Clearfield during the third quarter worth about $300,000. SG Americas Securities LLC grew its position 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 worth $142,000 after buying an additional 279 shares during the last quarter. Select Equity Group L.P. purchased a new stake in Clearfield in the second quarter worth $453,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Clearfield during the second quarter valued at about $217,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Stock Performance

NASDAQ:CLFD traded down $0.15 during mid-day trading on Monday, hitting $36.28. 2,195 shares of the company traded hands, compared to its average volume of 155,676. The stock’s fifty day moving average price is $37.72 and its 200-day moving average price is $37.27. The company has a quick ratio of 5.73, a current ratio of 8.38 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a one year low of $22.91 and a one year high of $44.83. The firm has a market cap of $516.37 million, a price-to-earnings ratio of -145.72 and a beta of 1.34.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.30. The company had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The firm’s revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. Research analysts anticipate that Clearfield, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Walter Louis Jones, Jr. bought 1,324 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $37.77 per share, with a total value of $50,007.48. Following the completion of the purchase, the director now owns 6,061 shares of the company’s stock, valued at approximately $228,923.97. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Clearfield in a research report on Tuesday, September 24th. StockNews.com lowered shares of Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and upped their price target for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Roth Mkm reduced their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Northland Securities lifted their target price on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Company 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.