Zacks Investment Research Lowers Casa Systems (CASA) to Sell

Zacks Investment Research lowered shares of Casa Systems (NASDAQ:CASA) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “Casa Systems, Inc. develops and provides digital cable video and broadband services. It offers fixed, mobile, optical and wireless network solutions for ultra-broadband services, carrier-grade solutions to cable service providers and cable network access solutions which incorporate RF engineering, high-density access aggregation, software innovation and extreme subscriber management capabilities. Casa Systems, Inc. is headquartered in Andover, MA. “

Several other research analysts also recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Casa Systems from $27.00 to $31.00 and gave the stock a buy rating in a report on Friday, April 27th. ValuEngine downgraded shares of Casa Systems from a hold rating to a sell rating in a report on Wednesday, March 14th. Barclays reiterated an equal weight rating and issued a $25.00 target price (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $23.00 target price (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $26.29.

Casa Systems stock opened at $20.76 on Thursday. The company has a debt-to-equity ratio of 4.11, a current ratio of 5.29 and a quick ratio of 3.87. Casa Systems has a 1-year low of $13.25 and a 1-year high of $34.21.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings results on Thursday, May 10th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The firm had revenue of $89.10 million for the quarter, compared to analyst estimates of $88.50 million. research analysts forecast that Casa Systems will post 1.04 earnings per share for the current year.

In related news, major shareholder 2012 Irrevocable Tru Dragonfly sold 415,343 shares of Casa Systems stock in a transaction on Monday, April 30th. The shares were sold at an average price of $23.89, for a total value of $9,922,544.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Weidong Chen sold 360,948 shares of Casa Systems stock in a transaction on Monday, April 30th. The stock was sold at an average price of $23.89, for a total transaction of $8,623,047.72. The disclosure for this sale can be found here. Insiders sold a total of 7,225,398 shares of company stock worth $177,851,205 in the last quarter. Insiders own 64.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CASA. Gilder Gagnon Howe & Co. LLC acquired a new stake in Casa Systems in the 4th quarter worth $232,000. Summit Partners L P acquired a new stake in Casa Systems in the 4th quarter worth $689,834,000. Monashee Investment Management LLC acquired a new stake in Casa Systems in the 4th quarter worth $2,229,000. Landscape Capital Management L.L.C. acquired a new stake in Casa Systems in the 4th quarter worth $1,320,000. Finally, MYDA Advisors LLC acquired a new stake in Casa Systems in the 4th quarter worth $1,598,000. Institutional investors own 54.16% of the company’s stock.

Casa Systems Company 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 software-centric infrastructure 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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