Should You Avoid Calix Inc (CALX)?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. It’s worth mentioning that Frank Slattery’s Symmetry Peak Management sold off the largest investment of all the investors studied by Insider Monkey, totaling an estimated $1.7 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund cut about $0.2 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Calix Inc (NYSE:CALX). We will take a look at Ares Commercial Real Estate Corp (NYSE:ACRE), Barrett Business Services, Inc. (NASDAQ:BBSI), Clifton Savings Bancorp, Inc. (NASDAQ:CSBK), and Independent Bank Corporation(MI) (NASDAQ:IBCP). This group of stocks’ market values match CALX’s market value.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $77 million in CALX’s case. Clifton Savings Bancorp, Inc. (NASDAQ:CSBK) is the most popular stock in this table. On the other hand Barrett Business Services, Inc. (NASDAQ:BBSI) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Calix Inc (NYSE:CALX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None