PAX Financial Group LLC Takes $915,000 Position in Calix, Inc (NYSE:CALX)

PAX Financial Group LLC bought a new position in shares of Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,822 shares of the communications equipment provider's stock, valued at approximately $915,000.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Calix by 91.1% during the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after buying an additional 480 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Calix during the fourth quarter worth approximately $84,000. Mercer Global Advisors Inc. ADV purchased a new position in Calix in the fourth quarter valued at approximately $208,000. Summit Investment Advisors Inc. increased its stake in Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after purchasing an additional 465 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in Calix in the fourth quarter valued at approximately $222,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Calix news, CFO Cory Sindelar sold 10,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $52.00, for a total value of $520,000.00. Following the completion of the sale, the chief financial officer owned 76,285 shares of the company's stock, valued at approximately $3,966,820. This trade represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director directly owned 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CALX. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Wolfe Research began coverage on shares of Calix in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday. Roth Capital set a $50.00 price target on shares of Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $56.00 price target on shares of Calix in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.83.

Calix Stock Up 1.2%

Shares of NYSE CALX traded up $0.64 during mid-day trading on Friday, hitting $53.60. 568,503 shares of the company were exchanged, compared to its average volume of 693,159. The stock has a 50 day simple moving average of $48.54 and a 200-day simple moving average of $40.93. Calix, Inc has a 1-year low of $28.61 and a 1-year high of $54.19. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -103.05 and a beta of 1.37.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. During the same period last year, the company earned $0.21 earnings per share. Analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

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

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.