Clearfield Inc (CLFD) Director Purchases $12,650.00 in Stock

Clearfield Inc (NASDAQ:CLFD) Director Roger G. Harding bought 1,000 shares of the stock in a transaction on Monday, February 5th. The shares were bought at an average price of $12.65 per share, for a total transaction of $12,650.00. Following the completion of the transaction, the director now directly owns 19,009 shares of the company’s stock, valued at approximately $240,463.85. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Clearfield Inc (NASDAQ CLFD) traded up $0.15 on Tuesday, reaching $12.55. 31,824 shares of the company’s stock traded hands, compared to its average volume of 29,801. Clearfield Inc has a one year low of $11.00 and a one year high of $17.65. The firm has a market capitalization of $170.56, a price-to-earnings ratio of 42.59 and a beta of 1.15.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, January 25th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Clearfield had a net margin of 5.39% and a return on equity of 6.00%. The company had revenue of $16.87 million for the quarter, compared to analyst estimates of $18.30 million. analysts expect that Clearfield Inc will post 0.32 EPS for the current fiscal year.

Several brokerages have weighed in on CLFD. Zacks Investment Research upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Northland Securities set a $15.00 target price on shares of Clearfield and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, Lake Street Capital upped their target price on shares of Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 10th.

Several hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Clearfield by 26.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the communications equipment provider’s stock valued at $260,000 after purchasing an additional 4,500 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Clearfield by 9.7% in the third quarter. Dimensional Fund Advisors LP now owns 433,791 shares of the communications equipment provider’s stock valued at $5,900,000 after purchasing an additional 38,196 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Clearfield by 63.6% in the third quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 4,773 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Clearfield in the third quarter valued at approximately $145,000. Finally, Concourse Capital Management LLC acquired a new stake in shares of Clearfield in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 28.95% of the company’s stock.

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About Clearfield

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.

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