Townsquare Capital LLC Raises Position in Calix, Inc. (NYSE:CALX)

Townsquare Capital LLC grew its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,655 shares of the communications equipment provider's stock after purchasing an additional 26,007 shares during the quarter. Townsquare Capital LLC owned approximately 0.17% of Calix worth $4,409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Mesirow Institutional Investment Management Inc. raised its stake in Calix by 8.9% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 358,647 shares of the communications equipment provider's stock valued at $12,707,000 after acquiring an additional 29,367 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of Calix by 9.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider's stock valued at $28,771,000 after purchasing an additional 68,300 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Calix by 28.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 129,359 shares of the communications equipment provider's stock valued at $4,583,000 after buying an additional 28,685 shares in the last quarter. Creative Planning bought a new position in Calix in the 2nd quarter worth approximately $513,000. Finally, Paradigm Capital Management Inc. NY grew its stake in Calix by 9.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider's stock valued at $47,366,000 after buying an additional 115,500 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Performance

Calix stock traded up $0.40 during midday trading on Friday, hitting $32.53. 407,325 shares of the company's stock were exchanged, compared to its average volume of 768,933. The stock has a 50-day moving average price of $35.91 and a two-hundred day moving average price of $35.72. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $45.15. The company has a market cap of $2.16 billion, a P/E ratio of -135.29 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The company had revenue of $200.95 million for the quarter, compared to analysts' expectations of $201.06 million. During the same period in the prior year, the business earned $0.25 earnings per share. Calix's revenue for the quarter was down 23.8% compared to the same quarter last year. As a group, sell-side analysts expect that Calix, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CALX has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, October 29th. Rosenblatt Securities reissued a "buy" rating and set a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd. Finally, StockNews.com raised Calix from a "sell" rating to a "hold" rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Calix presently has an average rating of "Moderate Buy" and an average target price of $42.50.

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.