ExodusPoint Capital Management LP Acquires Shares of 18,885 Clearfield, Inc. (NASDAQ:CLFD)

ExodusPoint Capital Management LP bought a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,885 shares of the communications equipment provider’s stock, valued at approximately $585,000. ExodusPoint Capital Management LP owned 0.13% of Clearfield as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its position in Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock worth $3,428,000 after purchasing an additional 54,670 shares during the period. Drum Hill Capital LLC acquired a new position in shares of Clearfield in the 4th quarter valued at approximately $1,539,000. Raymond James Financial Inc. bought a new stake in shares of Clearfield during the 4th quarter worth approximately $721,000. Skylands Capital LLC acquired a new stake in shares of Clearfield during the 4th quarter worth approximately $645,000. Finally, Royce & Associates LP increased its stake in Clearfield by 3.1% in the fourth quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider’s stock valued at $14,843,000 after acquiring an additional 14,464 shares during 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. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Clearfield in a research note on Wednesday, March 26th. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Insider Transactions at Clearfield

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

Clearfield Stock Performance

Shares of Clearfield stock opened at $26.51 on Friday. The company’s 50 day moving average price is $30.57 and its two-hundred day moving average price is $33.08. The firm has a market capitalization of $374.64 million, a P/E ratio of -42.08 and a beta of 1.51. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $44.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. On average, equities analysts forecast that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

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.