Dynamic Technology Lab Private Ltd acquired a new position in shares of Casa Systems Inc (NASDAQ:CASA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 54,037 shares of the company’s stock, valued at approximately $449,000.
Other large investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Casa Systems by 17.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 99,685 shares of the company’s stock worth $1,308,000 after buying an additional 14,692 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Casa Systems in the 4th quarter worth about $149,000. Penserra Capital Management LLC purchased a new position in shares of Casa Systems in the 1st quarter worth about $241,000. Rhumbline Advisers boosted its holdings in shares of Casa Systems by 66.4% in the 4th quarter. Rhumbline Advisers now owns 34,166 shares of the company’s stock worth $449,000 after buying an additional 13,634 shares during the last quarter. Finally, Becker Capital Management Inc. purchased a new position in shares of Casa Systems in the 1st quarter worth about $410,000. 66.85% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on CASA. Zacks Investment Research raised shares of Casa Systems from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine raised shares of Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Raymond James downgraded shares of Casa Systems from an “outperform” rating to a “market perform” rating in a report on Friday, February 22nd. DA Davidson started coverage on shares of Casa Systems in a report on Monday, March 18th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, William Blair downgraded shares of Casa Systems from an “outperform” rating to a “market perform” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.63.
NASDAQ CASA opened at $5.68 on Thursday. The stock has a market cap of $478.67 million, a price-to-earnings ratio of 12.41 and a beta of 0.49. Casa Systems Inc has a 52 week low of $5.46 and a 52 week high of $19.08. The company has a current ratio of 5.12, a quick ratio of 4.23 and a debt-to-equity ratio of 4.47.
Casa Systems (NASDAQ:CASA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.18). The business had revenue of $35.50 million for the quarter, compared to analysts’ expectations of $55.83 million. Casa Systems had a net margin of 16.38% and a return on equity of 51.33%. Casa Systems’s revenue for the quarter was down 60.2% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. On average, analysts anticipate that Casa Systems Inc will post -0.01 earnings per share for the current fiscal year.
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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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