Mesirow Institutional Investment Management Inc. Grows Stake in Calix, Inc. (NYSE:CALX)

Mesirow Institutional Investment Management Inc. boosted its position in Calix, Inc. (NYSE:CALX - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 385,323 shares of the communications equipment provider's stock after purchasing an additional 23,646 shares during the period. Mesirow Institutional Investment Management Inc. owned about 0.58% of Calix worth $13,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CALX. Smartleaf Asset Management LLC increased its holdings in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after buying an additional 640 shares in the last quarter. Pacer Advisors Inc. increased its stake in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares in the last quarter. Quantbot Technologies LP acquired a new position in Calix during the fourth quarter worth $84,000. FMR LLC boosted its position in Calix by 49.0% during the third 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. Finally, KBC Group NV boosted its position in Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Price Performance

CALX traded down $0.72 during trading on Wednesday, hitting $36.89. The company's stock had a trading volume of 2,344,092 shares, compared to its average volume of 675,122. Calix, Inc. has a twelve month low of $27.20 and a twelve month high of $42.50. The stock has a market cap of $2.46 billion, a PE ratio of -81.97 and a beta of 1.75. The firm's 50 day moving average price is $34.98 and its 200-day moving average price is $35.79.

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

Calix declared that its Board of Directors has authorized a share repurchase plan on Monday, April 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares of the company's stock, valued at $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CALX shares. Roth Capital set a $50.00 price target on Calix and gave the stock a "buy" rating in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and set a $53.00 target price on shares of Calix in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Calix has an average rating of "Moderate Buy" and a consensus price target of $45.29.

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.