Russell Investments Group Ltd. Boosts Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Russell Investments Group Ltd. increased its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD) by 44.0% in the second quarter, Holdings Channel reports. The firm owned 27,589 shares of the communications equipment provider’s stock after buying an additional 8,429 shares during the quarter. Russell Investments Group Ltd.’s holdings in Clearfield were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Hussman Strategic Advisors Inc. increased its holdings in shares of Clearfield by 330.6% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 62,000 shares of the communications equipment provider’s stock valued at $2,322,000 after purchasing an additional 47,600 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Clearfield by 22.2% in the 1st quarter. Penserra Capital Management LLC now owns 221,399 shares of the communications equipment provider’s stock valued at $6,670,000 after purchasing an additional 40,220 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Clearfield by 88.5% in the 1st quarter. Millennium Management LLC now owns 72,073 shares of the communications equipment provider’s stock valued at $2,172,000 after purchasing an additional 33,831 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Clearfield by 186.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,026 shares of the communications equipment provider’s stock valued at $1,447,000 after purchasing an additional 31,287 shares in the last quarter. Finally, G2 Investment Partners Management LLC increased its holdings in shares of Clearfield by 7.5% in the 1st quarter. G2 Investment Partners Management LLC now owns 380,241 shares of the communications equipment provider’s stock valued at $11,457,000 after purchasing an additional 26,608 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

A number of brokerages have recently issued reports on CLFD. Zacks Investment Research upgraded shares of Clearfield from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, July 26th. Lake Street Capital raised their target price on shares of Clearfield from $40.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 23rd. Finally, Northland Securities began coverage on shares of Clearfield in a report on Friday, July 23rd. They set a “buy” rating and a $43.00 target price for the company.

In other news, Director Patrick Goepel sold 6,103 shares of Clearfield stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $45.08, for a total transaction of $275,123.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.40% of the company’s stock.

NASDAQ:CLFD opened at $43.42 on Tuesday. The firm has a 50-day moving average price of $42.33 and a two-hundred day moving average price of $37.45. Clearfield, Inc. has a twelve month low of $18.45 and a twelve month high of $46.92. The company has a market capitalization of $596.72 million, a P/E ratio of 37.43 and a beta of 0.95.

Clearfield (NASDAQ:CLFD) last posted its earnings results on Thursday, July 22nd. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.15. Clearfield had a net margin of 12.98% and a return on equity of 17.96%. The firm had revenue of $38.74 million during the quarter, compared to the consensus estimate of $32.00 million. As a group, sell-side analysts predict that Clearfield, Inc. will post 1.25 EPS for the current year.

Clearfield Profile

Clearfield, Inc designs, manufactures, and distributes fiber optic management, protection and delivery products for communications networks. The firm’s products include fiber cabinets, patch cards, assemblies, cassettes, frames, panels, microduct, terminals, vaults, wall boxes, and box enclosures. It offers its products under the Clearview brand.

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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