American Century Companies Inc. Boosts Stock Holdings in Clearfield, Inc. (NASDAQ:CLFD)

American Century Companies Inc. grew its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,810 shares of the communications equipment provider’s stock after purchasing an additional 3,764 shares during the quarter. American Century Companies Inc. owned approximately 0.10% of Clearfield worth $571,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Clearfield in the second quarter worth approximately $130,000. Price T Rowe Associates Inc. MD raised its position in shares of Clearfield by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,536 shares of the communications equipment provider’s stock worth $233,000 after acquiring an additional 510 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Clearfield during the 2nd quarter worth $252,000. BNP Paribas Financial Markets boosted its position in Clearfield by 187.4% during the first quarter. BNP Paribas Financial Markets now owns 11,330 shares of the communications equipment provider’s stock valued at $349,000 after purchasing an additional 7,388 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Clearfield by 57.3% in the first quarter. Quantbot Technologies LP now owns 11,998 shares of the communications equipment provider’s stock valued at $370,000 after purchasing an additional 4,371 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Clearfield Price Performance

NASDAQ CLFD opened at $38.17 on Thursday. The company has a market cap of $543.27 million, a price-to-earnings ratio of -152.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. The stock’s fifty day moving average price is $38.71 and its 200 day moving average price is $36.35. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The business had revenue of $48.79 million for the quarter, compared to analyst estimates of $42.13 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue was down 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Clearfield, Inc. will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on CLFD shares. Northland Securities boosted their target price on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Roth Mkm reduced their price target on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. StockNews.com raised Clearfield to a “sell” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Insiders Place Their Bets

In other Clearfield news, Director Walter Louis Jones, Jr. bought 1,324 shares of Clearfield stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $37.77 per share, with a total value of $50,007.48. Following the completion of the acquisition, the director now directly owns 6,061 shares in the company, valued at approximately $228,923.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by insiders.

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.