7,505 Shares in Clearfield, Inc. (NASDAQ:CLFD) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in Clearfield, Inc. (NASDAQ:CLFD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,505 shares of the communications equipment provider’s stock, valued at approximately $233,000. Sequoia Financial Advisors LLC owned about 0.05% of Clearfield at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its position in shares of Clearfield by 12.2% during the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after buying an additional 27,178 shares during the last quarter. Barclays PLC boosted its position in shares of Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after buying an additional 54,670 shares during the last quarter. Drum Hill Capital LLC purchased a new stake in shares of Clearfield during the fourth quarter valued at $1,539,000. Janus Henderson Group PLC boosted its position in shares of Clearfield by 2.7% during the third quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider’s stock valued at $1,171,000 after buying an additional 794 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Clearfield during the fourth quarter valued at $721,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CLFD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research report on Friday, February 7th. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Clearfield currently has a consensus rating of “Moderate Buy” and a consensus price target 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 dated Wednesday, February 12th. The stock was sold at an average price of $33.26, for a total value of $550,087.14. Following the transaction, the chief operating officer now owns 189,886 shares of the company’s stock, valued at $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.80% of the company’s stock.

Clearfield Stock Up 2.0 %

CLFD stock opened at $31.55 on Friday. Clearfield, Inc. has a fifty-two week low of $26.94 and a fifty-two week high of $44.83. The business’s 50-day moving average is $33.82 and its two-hundred day moving average is $34.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. The company has a market cap of $445.86 million, a price-to-earnings ratio of -50.08 and a beta of 1.26.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data 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 return on equity of 3.31% and a negative net margin of 5.41%. As a group, analysts forecast that Clearfield, Inc. will post -0.29 earnings per share for the current 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.