Russell Investments Group Ltd. Decreases Stock Holdings in Calix, Inc. (NYSE:CALX)

Russell Investments Group Ltd. lessened its holdings in Calix, Inc. (NYSE:CALX) by 42.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,337 shares of the communications equipment provider’s stock after selling 52,776 shares during the quarter. Russell Investments Group Ltd.’s holdings in Calix were worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Calix by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after acquiring an additional 412,982 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Calix by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider’s stock valued at $47,885,000 after purchasing an additional 45,195 shares during the last quarter. Geode Capital Management LLC raised its holdings in Calix by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,337,709 shares of the communications equipment provider’s stock worth $46,657,000 after purchasing an additional 6,144 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Calix by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider’s stock worth $22,639,000 after buying an additional 48,098 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Calix in the 4th quarter valued at $11,518,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Stock Performance

NYSE CALX opened at $33.80 on Friday. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The firm has a market cap of $2.25 billion, a PE ratio of -75.12 and a beta of 1.75. The firm’s fifty day moving average is $35.41 and its two-hundred day moving average is $35.86.

Calix (NYSE:CALX) last posted its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) 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%. Research analysts predict that Calix, Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Calix from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.33.

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.