Cubist Systematic Strategies LLC Invests $710,000 in Clearfield, Inc. (NASDAQ:CLFD)

Cubist Systematic Strategies LLC acquired a new position in Clearfield, Inc. (NASDAQ:CLFD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,914 shares of the communications equipment provider’s stock, valued at approximately $710,000. Cubist Systematic Strategies LLC owned 0.16% of Clearfield as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its stake in shares of Clearfield by 2.5% in the 4th quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider’s stock worth $470,000 after purchasing an additional 366 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Clearfield by 340.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,172 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 906 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Clearfield by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock worth $239,000 after purchasing an additional 1,544 shares during the period. SG Americas Securities LLC lifted its stake in shares of Clearfield by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock worth $164,000 after purchasing an additional 1,656 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Clearfield by 26.5% in the 4th quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider’s stock worth $296,000 after purchasing an additional 1,997 shares during the period. Institutional investors own 88.73% of the company’s stock.

Clearfield Trading Down 0.7%

Clearfield stock opened at $37.47 on Thursday. The stock has a market cap of $529.53 million, a P/E ratio of -59.48 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.57 and a quick ratio of 7.41. Clearfield, Inc. has a 1 year low of $23.78 and a 1 year high of $44.83. The firm’s 50 day moving average price is $29.32 and its 200-day moving average price is $31.95.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.28. The firm had revenue of $47.17 million for the quarter, compared to analysts’ expectations of $38.53 million. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. On average, equities analysts predict that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Clearfield in a research note on Wednesday, March 26th. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.