New Century Advisors LLC Invests $492,000 in Clearfield, Inc. (NASDAQ:CLFD)

New Century Advisors LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFDGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,974 shares of the communications equipment provider’s stock, valued at approximately $492,000. New Century Advisors LLC owned about 0.06% of Clearfield as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Redwood Investments LLC acquired a new position in Clearfield during the 1st quarter worth about $13,409,000. Royce & Associates LP lifted its position in Clearfield by 148.5% during the 1st quarter. Royce & Associates LP now owns 162,800 shares of the communications equipment provider’s stock worth $10,618,000 after buying an additional 97,300 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Clearfield during the 1st quarter worth about $3,978,000. Atika Capital Management LLC lifted its position in Clearfield by 14.2% during the 1st quarter. Atika Capital Management LLC now owns 395,904 shares of the communications equipment provider’s stock worth $25,822,000 after buying an additional 49,309 shares in the last quarter. Finally, Mount Capital Ltd acquired a new position in Clearfield during the 1st quarter worth about $2,894,000. Institutional investors own 48.06% of the company’s stock.

Insider Buying and Selling

In related news, Director Roger G. Harding sold 1,500 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $125.86, for a total transaction of $188,790.00. Following the completion of the sale, the director now directly owns 15,508 shares of the company’s stock, valued at approximately $1,951,836.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Roger G. Harding sold 1,500 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $125.86, for a total transaction of $188,790.00. Following the completion of the sale, the director now directly owns 15,508 shares of the company’s stock, valued at approximately $1,951,836.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald R. Hayward sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $120.50, for a total value of $144,600.00. Following the sale, the director now directly owns 8,984 shares of the company’s stock, valued at $1,082,572. The disclosure for this sale can be found here. In the last three months, insiders sold 45,023 shares of company stock valued at $4,970,719. 17.40% of the stock is owned by corporate insiders.

Clearfield Trading Down 1.6 %

Shares of NASDAQ:CLFD traded down $1.46 during mid-day trading on Friday, reaching $89.35. The stock had a trading volume of 9,393 shares, compared to its average volume of 237,436. The firm has a market cap of $1.23 billion, a PE ratio of 31.59 and a beta of 1.31. The firm has a 50 day simple moving average of $102.61 and a two-hundred day simple moving average of $75.35. Clearfield, Inc. has a twelve month low of $42.41 and a twelve month high of $130.01.

Clearfield (NASDAQ:CLFDGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The communications equipment provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The business had revenue of $71.25 million for the quarter, compared to the consensus estimate of $55.00 million. Clearfield had a net margin of 18.00% and a return on equity of 33.27%. On average, equities analysts anticipate that Clearfield, Inc. will post 3.13 EPS for the current fiscal year.

Analyst Ratings Changes

CLFD has been the topic of a number of research reports. Lake Street Capital upped their target price on shares of Clearfield from $75.00 to $104.00 in a research report on Friday, July 29th. Northland Securities upped their target price on shares of Clearfield from $95.00 to $110.00 in a research report on Tuesday, September 6th. Needham & Company LLC upped their target price on shares of Clearfield from $92.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Westpark Capital initiated coverage on shares of Clearfield in a research report on Tuesday, September 13th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.25.

About Clearfield

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Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

See Also

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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