Dark Forest Capital Management LP Invests $320,000 in Calix, Inc. (NYSE:CALX)

Dark Forest Capital Management LP purchased a new stake in Calix, Inc. (NYSE:CALX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,190 shares of the communications equipment provider's stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after buying an additional 358 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after acquiring an additional 465 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Calix by 7.1% during the 4th quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock worth $248,000 after purchasing an additional 469 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 640 shares during the period. Finally, Inspire Investing LLC lifted its position in Calix by 9.2% during the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock worth $405,000 after acquiring an additional 978 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the transaction, the director now owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.90% of the company's stock.

Calix Price Performance

NYSE:CALX traded up $0.40 during mid-day trading on Thursday, reaching $41.31. The stock had a trading volume of 751,219 shares, compared to its average volume of 683,937. The stock has a 50-day simple moving average of $35.10 and a two-hundred day simple moving average of $35.91. The stock has a market capitalization of $2.68 billion, a PE ratio of -91.79 and a beta of 1.75. Calix, Inc. has a 12 month low of $27.76 and a 12 month high of $42.50.

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

Calix declared that its Board of Directors has initiated a stock repurchase program on Monday, April 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CALX shares. JPMorgan Chase & Co. boosted their target price on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Roth Capital set a $50.00 target price on Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price target on shares of Calix in a research note on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities lifted their target price on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Calix presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Calix 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.