AlphaQuest LLC Has $275,000 Position in Clearfield, Inc. (NASDAQ:CLFD)

AlphaQuest LLC lessened its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 40.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,865 shares of the communications equipment provider’s stock after selling 5,961 shares during the period. AlphaQuest LLC’s holdings in Clearfield were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Clearfield during the 4th quarter worth $721,000. Skylands Capital LLC acquired a new stake in Clearfield during the fourth quarter worth about $645,000. Drum Hill Capital LLC bought a new position in Clearfield in the 4th quarter valued at about $1,539,000. SG Americas Securities LLC lifted its holdings in shares of Clearfield by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock worth $164,000 after acquiring an additional 1,656 shares during the period. Finally, Barclays PLC boosted its position in shares of Clearfield by 164.2% during the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock worth $3,428,000 after acquiring an additional 54,670 shares in the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLFD has been the subject of several recent analyst reports. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Clearfield in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.75.

Clearfield Price Performance

Clearfield stock opened at $29.46 on Friday. The stock has a 50-day moving average price of $34.13 and a two-hundred day moving average price of $34.49. Clearfield, Inc. has a 12 month low of $26.94 and a 12 month high of $44.83. The company has a market capitalization of $416.33 million, a PE ratio of -46.76 and a beta of 1.26. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. Analysts expect that Clearfield, Inc. will post -0.29 EPS for the current year.

Insider Transactions at Clearfield

In other news, COO John P. Hill sold 16,539 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was 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 directly owns 189,886 shares in the company, valued at $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.80% of the stock is 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.