IndexIQ Advisors LLC acquired a new position in shares of Casa Systems Inc (NASDAQ:CASA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 54,701 shares of the company’s stock, valued at approximately $191,000. IndexIQ Advisors LLC owned approximately 0.07% of Casa Systems as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Casa Systems by 14.2% in the 1st quarter. Bank of New York Mellon Corp now owns 119,383 shares of the company’s stock worth $418,000 after acquiring an additional 14,835 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Casa Systems in the 1st quarter valued at $212,000. SG Americas Securities LLC purchased a new position in Casa Systems in the 1st quarter worth about $41,000. BlackRock Inc. increased its stake in Casa Systems by 2.3% in the 1st quarter. BlackRock Inc. now owns 2,129,765 shares of the company’s stock worth $7,455,000 after purchasing an additional 47,972 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in Casa Systems by 61.7% during the 1st quarter. Peregrine Capital Management LLC now owns 1,272,545 shares of the company’s stock worth $4,454,000 after buying an additional 485,606 shares during the period. Institutional investors and hedge funds own 69.45% of the company’s stock.
Several research analysts have recently weighed in on CASA shares. Morgan Stanley lifted their target price on shares of Casa Systems from $2.70 to $4.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Barclays reiterated a “hold” rating and set a $5.00 price objective on shares of Casa Systems in a research report on Sunday, May 3rd. Northland Securities restated a “buy” rating and issued a $7.00 target price on shares of Casa Systems in a report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on Casa Systems in a research report on Tuesday, April 14th. They issued an “underweight” rating for the company. Finally, Zacks Investment Research lowered Casa Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.13.
CASA stock opened at $4.21 on Friday. The company has a 50 day moving average of $4.11 and a two-hundred day moving average of $3.80. Casa Systems Inc has a 12-month low of $1.85 and a 12-month high of $8.03. The company has a current ratio of 4.04, a quick ratio of 2.90 and a debt-to-equity ratio of 7.30.
Casa Systems (NASDAQ:CASA) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). Casa Systems had a positive return on equity of 3.56% and a negative net margin of 9.60%. The firm had revenue of $83.62 million for the quarter, compared to analysts’ expectations of $70.95 million. Equities research analysts expect that Casa Systems Inc will post -0.1 EPS for the current fiscal year.
Casa Systems Profile
Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.
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