Alps Advisors Inc. boosted its position in shares of Casa Systems Inc (NASDAQ:CASA) by 100.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,730 shares of the company’s stock after buying an additional 15,424 shares during the quarter. Alps Advisors Inc.’s holdings in Casa Systems were worth $453,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CASA. Overbrook Management Corp grew its position in Casa Systems by 898.8% during the second quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock valued at $23,322,000 after buying an additional 1,285,176 shares during the period. Point72 Asset Management L.P. acquired a new stake in Casa Systems during the second quarter valued at $15,563,000. Gilder Gagnon Howe & Co. LLC grew its position in Casa Systems by 2,712.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock valued at $10,357,000 after buying an additional 611,655 shares during the period. Millennium Management LLC acquired a new stake in Casa Systems during the second quarter valued at $8,329,000. Finally, Formula Growth Ltd. acquired a new stake in Casa Systems during the second quarter valued at $6,205,000. Institutional investors own 61.23% of the company’s stock.
CASA opened at $15.76 on Friday. The company has a current ratio of 5.54, a quick ratio of 5.13 and a debt-to-equity ratio of 2.74. The firm has a market cap of $1.36 billion and a price-to-earnings ratio of 19.95. Casa Systems Inc has a 52-week low of $11.26 and a 52-week high of $34.21.
Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.08. The business had revenue of $71.50 million for the quarter, compared to the consensus estimate of $75.88 million. Casa Systems had a net margin of 17.93% and a return on equity of 112.41%. The company’s revenue was down 24.1% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, research analysts anticipate that Casa Systems Inc will post 0.74 earnings per share for the current fiscal year.
Several analysts recently commented on CASA shares. Northland Securities set a $17.00 price target on shares of Casa Systems and gave the company a “buy” rating in a research report on Wednesday, August 15th. Loop Capital upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, August 24th. Morgan Stanley dropped their price target on shares of Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Stifel Nicolaus started coverage on shares of Casa Systems in a research report on Tuesday, October 23rd. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Casa Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.75.
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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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