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

Townsquare Capital LLC trimmed its position in Calix, Inc. (NYSE:CALX) by 32.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,243 shares of the communications equipment provider’s stock after selling 37,412 shares during the period. Townsquare Capital LLC’s holdings in Calix were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CALX. Vanguard Group Inc. lifted its position in Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after buying an additional 412,982 shares during the period. Norges Bank purchased a new position in shares of Calix during the 4th quarter worth about $11,518,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Calix by 2,741.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider’s stock worth $9,282,000 after acquiring an additional 256,829 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Calix by 57.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider’s stock valued at $22,490,000 after purchasing an additional 234,521 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Calix by 93.0% during the fourth quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider’s stock worth $8,585,000 after purchasing an additional 118,629 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the sale, the director now directly owns 2,164,188 shares in the company, valued at $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Calix Trading Up 1.4 %

NYSE:CALX opened at $34.43 on Wednesday. The stock has a 50 day moving average of $35.71 and a 200-day moving average of $35.91. The firm has a market capitalization of $2.29 billion, a PE ratio of -76.50 and a beta of 1.75. Calix, Inc. has a 52 week low of $26.76 and a 52 week high of $42.50.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. As a group, analysts predict that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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.