Insider Buying: Clearfield Inc (CLFD) Director Buys 1,000 Shares of Stock

Thursday, June 7 2018

Insider Buying: Clearfield Inc (CLFD) Director Buys 1,000 Shares of Stock

Insider Buying: Clearfield Inc (CLFD) Director Buys 1,000 Shares of Stock Posted by Donald Scott | Jun 7th, 2018
Clearfield Inc (NASDAQ:CLFD) Director Roger G. Harding acquired 1,000 shares of Clearfield stock in a transaction on Monday, May 14th. The shares were bought at an average price of $11.35 per share, with a total value of $11,350.00. Following the purchase, the director now directly owns 20,856 shares in the company, valued at approximately $236,715.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this link .
Shares of Clearfield stock opened at $10.80 on Thursday. The company has a market cap of $147.08 million, a PE ratio of 37.77 and a beta of 0.97. Clearfield Inc has a 1-year low of $10.45 and a 1-year high of $15.30. Get Clearfield alerts:
Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, April 26th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). The firm had revenue of $16.83 million for the quarter, compared to analysts’ expectations of $17.70 million. Clearfield had a net margin of 3.77% and a return on equity of 5.71%. research analysts predict that Clearfield Inc will post 0.25 earnings per share for the current year.
Several brokerages recently weighed in on CLFD. Zacks Investment Research upgraded Clearfield from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. ValuEngine cut Clearfield from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Finally, Lake Street Capital set a $15.00 price objective on Clearfield and gave the stock a “buy” rating in a report on Friday, April 27th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Clearfield by 222.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 10,815 shares of the communications equipment provider’s stock valued at $132,000 after purchasing an additional 7,461 shares during the period. Wells Fargo & Company MN increased its position in shares of Clearfield by 63.6% during the third quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 4,773 shares during the period. Virtu Financial LLC acquired a new position in shares of Clearfield during the fourth quarter worth $229,000. Schwab Charles Investment Management Inc. grew its stake in shares of Clearfield by 26.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,200 shares of the communications equipment provider’s stock worth $260,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Clearfield by 84.5% during the fourth quarter. Deutsche Bank AG now owns 25,568 shares of the communications equipment provider’s stock worth $312,000 after purchasing an additional 11,710 shares in the last quarter. 31.13% of the stock is currently owned by institutional investors.
About Clearfield
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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform. 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 . «