Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in Clearfield, Inc. (NASDAQ:CLFD – Get Rating) by 50.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,797 shares of the communications equipment provider’s stock after selling 9,095 shares during the period. Teacher Retirement System of Texas’ holdings in Clearfield were worth $828,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Clearfield in the 1st quarter valued at about $55,000. Tower Research Capital LLC TRC grew its stake in Clearfield by 54.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 243 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Clearfield in the 4th quarter worth $188,000. Raymond James & Associates purchased a new stake in Clearfield during the 4th quarter valued at about $204,000. Finally, Quantamental Technologies LLC bought a new position in shares of Clearfield in the 3rd quarter worth approximately $224,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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Clearfield Trading Up 6.8 %

Clearfield stock opened at $47.65 on Monday. Clearfield, Inc. has a 52 week low of $30.00 and a 52 week high of $134.90. The stock has a market capitalization of $726.66 million, a P/E ratio of 12.51 and a beta of 1.32. The stock has a 50-day simple moving average of $41.39 and a 200 day simple moving average of $64.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 7.51.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Lake Street Capital downgraded Clearfield from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Needham & Company LLC decreased their price objective on Clearfield from $95.00 to $50.00 in a report on Friday, May 5th. StockNews.com assumed coverage on Clearfield in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, TheStreet downgraded Clearfield from a “b-” rating to a “c+” rating in a report on Wednesday, March 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Clearfield currently has a consensus rating of “Moderate Buy” and an average price target of $98.83.

About Clearfield

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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.

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