Magnetar Financial LLC Acquires New Holdings in Calix, Inc. (NYSE:CALX)

Magnetar Financial LLC bought a new position in Calix, Inc. (NYSE:CALX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,363 shares of the communications equipment provider’s stock, valued at approximately $222,000.

Several other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 640 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Calix by 998.1% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 1,078 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Calix in the 3rd quarter valued at approximately $76,000. Finally, FMR LLC boosted its stake in Calix by 49.0% in the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock worth $93,000 after purchasing an additional 789 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 16.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CALX shares. JPMorgan Chase & Co. boosted their price target on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Calix Price Performance

Shares of NYSE CALX opened at $35.97 on Monday. Calix, Inc. has a 1 year low of $26.76 and a 1 year high of $42.50. The company has a market capitalization of $2.40 billion, a P/E ratio of -79.94 and a beta of 1.78. The company has a 50 day simple moving average of $37.41 and a 200-day simple moving average of $36.26.

Calix (NYSE:CALX) last posted its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. As a group, research analysts expect that Calix, Inc. will post -0.43 EPS for the current year.

About Calix

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.