Victory Capital Management Inc. reduced its position in Casa Systems Inc (NASDAQ:CASA) by 63.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,550 shares of the company’s stock after selling 13,127 shares during the period. Victory Capital Management Inc.’s holdings in Casa Systems were worth $49,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Casa Systems by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 159,400 shares of the company’s stock valued at $1,025,000 after purchasing an additional 2,371 shares in the last quarter. Cutler Group LP boosted its stake in Casa Systems by 3,864.0% during the second quarter. Cutler Group LP now owns 3,964 shares of the company’s stock valued at $25,000 after buying an additional 3,864 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Casa Systems by 40.1% during the second quarter. JPMorgan Chase & Co. now owns 16,595 shares of the company’s stock valued at $107,000 after buying an additional 4,753 shares in the last quarter. Quantamental Technologies LLC boosted its stake in Casa Systems by 1,044.9% during the second quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock valued at $38,000 after buying an additional 5,381 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Casa Systems by 590,300.0% during the second quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock valued at $38,000 after buying an additional 5,903 shares in the last quarter. 68.18% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the company. Barclays assumed coverage on Casa Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $8.00 price target for the company. Raymond James lowered Casa Systems from a “market perform” rating to an “underperform” rating in a research report on Tuesday, July 30th. Zacks Investment Research raised Casa Systems from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Monday, October 7th. ValuEngine raised Casa Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley reduced their price objective on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Casa Systems currently has an average rating of “Hold” and an average target price of $10.58.
CASA opened at $6.55 on Friday. Casa Systems Inc has a fifty-two week low of $5.35 and a fifty-two week high of $16.42. The business has a 50-day moving average of $6.67 and a 200-day moving average of $7.02. The company has a debt-to-equity ratio of 4.20, a current ratio of 6.25 and a quick ratio of 5.02. The company has a market capitalization of $526.03 million, a PE ratio of 24.14 and a beta of 0.91.
Casa Systems (NASDAQ:CASA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.15. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $49.59 million. Casa Systems had a return on equity of 32.65% and a net margin of 8.71%. The business’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, equities research analysts expect that Casa Systems Inc will post 0.12 earnings per share for the current fiscal year.
About Casa Systems
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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