Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Calix, Inc. (NYSE:CALX)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Calix, Inc. (NYSE:CALX) by 2,741.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,197 shares of the communications equipment provider’s stock after buying an additional 256,829 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Calix were worth $9,282,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of Calix by 367.8% in 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 during the period. Avior Wealth Management LLC increased its holdings in shares of Calix by 998.1% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after buying an additional 1,078 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after buying an additional 358 shares during the period. Truvestments Capital LLC purchased a new position in shares of Calix in the third quarter worth about $76,000. Finally, FMR LLC increased its holdings in shares of Calix by 49.0% in the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock worth $93,000 after buying an additional 789 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Price Performance

Shares of NYSE:CALX opened at $33.37 on Friday. Calix, Inc. has a 1 year low of $26.76 and a 1 year high of $42.50. The company has a market cap of $2.23 billion, a PE ratio of -74.16 and a beta of 1.78. The stock’s 50-day moving average is $37.64 and its 200 day moving average is $36.35.

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

Wall Street Analysts Forecast Growth

CALX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Thursday, February 27th. The stock was 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 of the company’s stock, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 16.69% of the company’s stock.

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.