Weil Company Inc. Takes $206,000 Position in Clearfield, Inc. (NASDAQ:CLFD)

Weil Company Inc. purchased a new position in Clearfield, Inc. (NASDAQ:CLFDFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,071 shares of the communications equipment provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. acquired a new stake in Clearfield in the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust raised its holdings in shares of Clearfield by 134.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 648 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Clearfield by 70.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock valued at $61,000 after purchasing an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Clearfield by 109.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after purchasing an additional 1,423 shares in the last quarter. Finally, CWM LLC increased its position in Clearfield by 28.1% during the fourth quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 644 shares during the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CLFD shares. Roth Mkm reaffirmed a “buy” rating and issued a $47.00 price target on shares of Clearfield in a research report on Wednesday, May 1st. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Clearfield in a report on Thursday, May 16th. Finally, Northland Securities raised Clearfield from a “market perform” rating to an “outperform” rating and raised their price target for the company from $25.00 to $40.00 in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Clearfield currently has an average rating of “Hold” and an average target price of $42.40.

Read Our Latest Stock Analysis on Clearfield

Clearfield Price Performance

Clearfield stock traded up $0.57 during mid-day trading on Friday, reaching $37.16. The company had a trading volume of 57,123 shares, compared to its average volume of 204,374. The company has a 50 day moving average of $31.70 and a 200-day moving average of $29.25. Clearfield, Inc. has a 52 week low of $22.91 and a 52 week high of $50.82.

Clearfield (NASDAQ:CLFDGet Free Report) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.13. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. The business had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $31.25 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue was down 43.1% on a year-over-year basis. Analysts expect that Clearfield, Inc. will post -1.26 EPS for the current year.

Clearfield Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CLFD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clearfield, Inc. (NASDAQ:CLFDFree Report).

Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

Receive News & Ratings for Clearfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearfield and related companies with MarketBeat.com's FREE daily email newsletter.