Axa S.A. Buys New Stake in Clearfield, Inc. (NASDAQ:CLFD)

Posted by Defense World Staff on Mar 2nd, 2023

Axa S.A. bought a new stake in Clearfield, Inc. (NASDAQ:CLFD – Get Rating) during the third quarter, according to its most recent filing with the SEC. The firm bought 4,400 shares of the communications equipment provider’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLFD. Point72 Hong Kong Ltd acquired a new stake in shares of Clearfield during the 1st quarter valued at about $55,000. Strs Ohio acquired a new stake in shares of Clearfield during the 3rd quarter valued at about $62,000. Tower Research Capital LLC TRC boosted its position in shares of Clearfield by 54.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 243 shares in the last quarter. KBC Group NV acquired a new stake in shares of Clearfield during the 3rd quarter valued at about $99,000. Finally, Stephens Inc. AR acquired a new stake in shares of Clearfield during the 3rd quarter valued at about $209,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Clearfield news, Director Charles N. Hayssen purchased 3,000 shares of the stock in a transaction dated Monday, February 13th. The stock was bought at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the transaction, the director now directly owns 136,847 shares in the company, valued at $8,279,243.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Clearfield news, Director Charles N. Hayssen purchased 3,000 shares of the stock in a transaction dated Monday, February 13th. The stock was bought at an average price of $60.50 per share, for a total transaction of $181,500.00. Following the transaction, the director now directly owns 136,847 shares in the company, valued at $8,279,243.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ronald G. Roth purchased 3,100 shares of the stock in a transaction dated Tuesday, February 7th. The shares were acquired at an average price of $64.00 per share, with a total value of $198,400.00. Following the transaction, the chairman now owns 1,254,783 shares in the company, valued at $80,306,112. The disclosure for this purchase can be found here. Insiders own 15.30% of the company’s stock.

Clearfield Trading Down 0.3 %

Shares of NASDAQ CLFD opened at $62.48 on Thursday. Clearfield, Inc. has a 1-year low of $48.91 and a 1-year high of $134.90. The company has a market cap of $950.95 million, a PE ratio of 16.44 and a beta of 1.36. The company has a current ratio of 6.49, a quick ratio of 4.51 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $75.65 and a two-hundred day moving average of $95.88.

Clearfield (NASDAQ:CLFD – Get Rating) last announced its earnings results on Thursday, February 2nd. The communications equipment provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Clearfield had a net margin of 17.41% and a return on equity of 30.34%. The company had revenue of $85.90 million during the quarter, compared to the consensus estimate of $83.56 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s revenue was up 68.1% on a year-over-year basis. As a group, equities analysts expect that Clearfield, Inc. will post 4.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Roth Capital assumed coverage on shares of Clearfield in a research report on Tuesday, January 17th. They set a “buy” rating and a $120.00 target price on the stock. Lake Street Capital cut their price target on shares of Clearfield from $135.00 to $108.00 in a report on Friday, February 3rd. Cowen cut their price target on shares of Clearfield from $141.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Needham & Company LLC cut their price target on shares of Clearfield from $135.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Finally, StockNews.com downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Clearfield has an average rating of “Moderate Buy” and a consensus target price of $116.33.

Clearfield Profile

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Clearfield, Inc engages in the design, manufacture, and distribution of fiber protection. It operates through the Clearfield and Nestor Cable segment. The Clearfield segment involves the design, manufacture, and selling of fiber management, protection, and delivery solutions. The Nestor Cables segment includes designs, manufacture, and selling fiber management, protection, and delivery solutions.