Federated Hermes Inc. Purchases 195,082 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Federated Hermes Inc. boosted its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 1,247.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,717 shares of the communications equipment provider’s stock after buying an additional 195,082 shares during the period. Federated Hermes Inc. owned approximately 1.41% of Clearfield worth $6,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CLFD. Smith Graham & Co. Investment Advisors LP purchased a new stake in Clearfield during the fourth quarter valued at approximately $5,148,000. Nordea Investment Management AB purchased a new stake in Clearfield during the third quarter valued at approximately $1,247,000. Dark Forest Capital Management LP raised its position in Clearfield by 688.7% during the third quarter. Dark Forest Capital Management LP now owns 34,679 shares of the communications equipment provider’s stock valued at $994,000 after purchasing an additional 30,282 shares during the period. Shaker Investments LLC OH purchased a new stake in Clearfield during the fourth quarter valued at approximately $738,000. Finally, Trexquant Investment LP purchased a new stake in Clearfield during the third quarter valued at approximately $476,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CLFD has been the topic of a number of recent research reports. Roth Mkm decreased their price objective on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.20.

Insiders Place Their Bets

In other news, Chairman Ronald G. Roth acquired 2,000 shares of Clearfield stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $29.62 per share, for a total transaction of $59,240.00. Following the acquisition, the chairman now directly owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Clearfield Stock Performance

Shares of NASDAQ CLFD opened at $29.36 on Friday. The business’s 50 day moving average price is $29.76 and its 200-day moving average price is $27.94. Clearfield, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The company has a market cap of $431.89 million, a price-to-earnings ratio of 35.80 and a beta of 1.32.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. The company had revenue of $34.20 million for the quarter, compared to the consensus estimate of $29.88 million. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. Clearfield’s quarterly revenue was down 60.2% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. Sell-side analysts predict that Clearfield, Inc. will post -1.03 earnings per share for the current year.

Clearfield 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.