Dark Forest Capital Management LP Takes Position in Calix, Inc. (NYSE:CALX)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CALX. Smartleaf Asset Management LLC grew its position in Calix by 367.8% during the fourth 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 in the last quarter. Pacer Advisors Inc. grew its holdings in shares of 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 purchasing an additional 358 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Calix in the fourth quarter worth $84,000. KBC Group NV raised its stake in Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after purchasing an additional 465 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Trading Up 1.7 %

CALX stock traded up $0.70 during midday trading on Friday, hitting $42.01. The stock had a trading volume of 808,821 shares, compared to its average volume of 684,800. The firm has a market cap of $2.72 billion, a P/E ratio of -93.35 and a beta of 1.38. The business has a fifty day moving average price of $35.18 and a two-hundred day moving average price of $35.88. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $42.50.

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

Calix announced that its board has approved a stock buyback plan on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.