Calix, Inc. (NYSE:CALX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of Calix, Inc. (NYSE:CALX) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,934 shares of the communications equipment provider’s stock after selling 1,843 shares during the period. Cresset Asset Management LLC’s holdings in Calix were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Calix during the fourth quarter valued at approximately $512,000. HighTower Advisors LLC lifted its stake in Calix by 30.5% during the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider’s stock valued at $4,123,000 after purchasing an additional 27,622 shares during the last quarter. Amundi acquired a new stake in Calix during the fourth quarter valued at approximately $330,000. Principal Financial Group Inc. lifted its stake in Calix by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider’s stock valued at $10,025,000 after purchasing an additional 10,393 shares during the last quarter. Finally, TradeLink Capital LLC acquired a new stake in Calix during the fourth quarter valued at approximately $299,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Performance

Calix stock opened at $45.43 on Friday. The firm has a market cap of $2.94 billion, a PE ratio of -100.95 and a beta of 1.38. The firm’s 50 day moving average price is $37.03 and its two-hundred day moving average price is $36.29. Calix, Inc. has a twelve month low of $28.61 and a twelve month high of $45.62.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter in the prior year, the business earned $0.21 EPS. Equities analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its board has approved a stock buyback program on Monday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a “buy” rating in a report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Finally, UBS Group restated a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director now directly owns 2,139,188 shares of the company’s stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.

Calix Company Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.