Clearfield Inc (CLFD) : Sns Financial Group reduced its stake in Clearfield Inc by 2.09% during the most recent quarter end. The investment management company now holds a total of 234,327 shares of Clearfield Inc which is valued at $4.1 Million after selling 5,000 shares in Clearfield Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Clearfield Inc makes up approximately 1.63% of Sns Financial Group’s portfolio.
Other Hedge Funds, Including , Riverpoint Capital Management sold out all of its stake in CLFD during the most recent quarter. The investment firm sold 10,136 shares of CLFD which is valued $178,394.Manufacturers Life Insurance Company The reduced its stake in CLFD by selling 659 shares or 7.69% in the most recent quarter. The Hedge Fund company now holds 7,907 shares of CLFD which is valued at $139,163. Cadence Capital Management added CLFD to its portfolio by purchasing 57,740 company shares during the most recent quarter which is valued at $1 Million. Clearfield Inc makes up approx 0.07% of Cadence Capital Management’s portfolio.
Clearfield Inc opened for trading at $16.95 and hit $17.18 on the upside on Friday, eventually ending the session at $17.18, with a gain of 1.60% or 0.27 points. The heightened volatility saw the trading volume jump to 40,705 shares. Company has a market cap of $236,929 M.
On the company’s financial health, Clearfield Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.04. The company had revenue of $16.90 million for the quarter, compared to analysts expectations of $13.67 million. The company’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Clearfield Inc. (Clearfield) manufactures markets and sells an end-to-end fiber management and enclosure platform that consolidates distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home business and cell site. The Company has extends this product line with a fiber delivery platform of optical cable connectors and microduct that delivers fiber to environments previously not economically or environmentally viable. The Company has established as a value-added supplier to its target market of broadband service providers including independent local exchange carriers (telephone) multiple service operators (cable) wireless service providers non-traditional providers and municipal-owned utilities. The Company deploys a hybrid sales model with some sales made directly to the customer some made through two-tier distribution partners and some sales through original equipment suppliers who private label its products.