Mackenzie Financial Corp Buys 6,287 Shares of Calix, Inc (NYSE:CALX)

Key Points

• Mackenzie Financial Corp increased its stake in Calix, Inc by 26.5%, owning nearly 30,000 shares valued at over $1 million.
• Significant insider transactions occurred, with CFO Cory Sindelar selling 10,000 shares for $560,000, reflecting an 11.59% decrease in his holdings.
• Calix reported earnings of $0.33 per share, exceeding estimates, with a 22.1% revenue increase compared to the same quarter last year.

Mackenzie Financial Corp grew its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 26.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,997 shares of the communications equipment provider's stock after acquiring an additional 6,287 shares during the quarter. Mackenzie Financial Corp's holdings in Calix were worth $1,063,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Summit Investment Advisors Inc. increased its stake in shares of Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after buying an additional 465 shares during the period. Signaturefd LLC increased its stake in shares of Calix by 91.1% in 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. Portside Wealth Group LLC increased its stake in shares of Calix by 8.0% in the first quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock worth $298,000 after buying an additional 621 shares during the period. Wellington Management Group LLP increased its stake in shares of Calix by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider's stock worth $7,053,000 after buying an additional 1,135 shares during the period. Finally, Huntleigh Advisors Inc. increased its stake in shares of Calix by 16.6% in the first quarter. Huntleigh Advisors Inc. now owns 9,822 shares of the communications equipment provider's stock worth $348,000 after buying an additional 1,397 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Stock Down 0.0%

Shares of CALX stock traded down $0.02 during mid-day trading on Friday, reaching $56.66. 673,644 shares of the company's stock traded hands, compared to its average volume of 873,159. Calix, Inc has a 12 month low of $28.60 and a 12 month high of $57.98. The company has a market cap of $3.70 billion, a P/E ratio of -141.65 and a beta of 1.27. The company's 50-day moving average price is $51.76 and its 200-day moving average price is $43.06.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.41. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The firm had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. During the same quarter in the previous year, the business posted $0.09 EPS. The company's quarterly revenue was up 22.1% on a year-over-year basis. Equities analysts predict that Calix, Inc will post -0.43 earnings per share for the current year.

Calix declared that its board has initiated a stock buyback plan on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Rosenblatt Securities upped their price objective on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Needham & Company LLC raised their target price on shares of Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 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. Wolfe Research initiated coverage on shares of Calix in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.25.

Insider Transactions at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the chief financial officer owned 76,285 shares in the company, valued at $4,271,960. The trade was a 11.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the transaction, the director owned 2,114,188 shares in the company, valued at approximately $117,126,015.20. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock worth $2,465,000. 16.90% of the stock is currently owned by company insiders.

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.