Nierenberg Investment Management Company Inc. Trims Position in Clearfield, Inc. (NASDAQ:CLFD)

Nierenberg Investment Management Company Inc. lowered its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 27.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 41,510 shares of the communications equipment provider’s stock after selling 16,000 shares during the period. Clearfield accounts for 0.7% of Nierenberg Investment Management Company Inc.’s investment portfolio, making the stock its 17th largest holding. Nierenberg Investment Management Company Inc.’s holdings in Clearfield were worth $1,287,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Clearfield in the 4th quarter worth about $74,000. Quantbot Technologies LP grew its holdings in Clearfield by 261.4% in the fourth quarter. Quantbot Technologies LP now owns 4,879 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 3,529 shares during the period. SG Americas Securities LLC increased its position in Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock worth $164,000 after purchasing an additional 1,656 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Clearfield during the fourth quarter worth approximately $233,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Clearfield by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 1,544 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Trading Up 0.9 %

NASDAQ:CLFD opened at $25.64 on Tuesday. The business’s 50-day moving average is $31.76 and its two-hundred day moving average is $33.54. The firm has a market capitalization of $362.34 million, a PE ratio of -40.70 and a beta of 1.51. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month 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 announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS 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%. Research analysts predict that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CLFD shares. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a report on Wednesday, March 26th. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.75.

Insider Transactions at Clearfield

In related news, COO John P. Hill sold 16,539 shares of Clearfield 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 sale, the chief operating officer now owns 189,886 shares of the company’s stock, valued at $6,315,608.36. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Clearfield Company Profile

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.