Calix President And CEO Carl Russo Buying Shares At Two-Month Low

Ahead of the third quarter results on November 1, Calix Inc CALX is witnessing some insider trading. However, the trading is viewed as automatic buying, which is nothing but a pre-set plan for specified amount or number of shares.

For the third quarter, analysts are looking for earnings of $0.08 per share. However, analysts have reduced their estimates for the full year from a loss of $0.01 per share to a loss of $0.06 per share.

The company's president and CEO, Carl Russo, has been buying shares since June 13 with 1,500 shares traded regularly. On October 11 and 12, he bought 1,500 shares at $6.99 and $6.95, respectively.

According to the latest SEC filing, Russo has 3.298 million shares, which is worth about $21.94 million based on $6.65 per share.

According to data published by Nasdaq, the CEO had 3.243 million shares when he commenced the current buying spree of 1,500 shares.

In the last three-month period, the company witnessed 15 insider buys and only one transaction which represented a sell. As far as buying, there was a total of 19,226 shares in the three-month period with a net addition of 18,678 shares.

At last check, the stock was down $0.12, or 1.8 percent, to $6.60.