MML Investors Services LLC decreased its position in Casa Systems Inc (NASDAQ:CASA) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,561 shares of the company’s stock after selling 3,795 shares during the quarter. MML Investors Services LLC’s holdings in Casa Systems were worth $377,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Casa Systems in the third quarter valued at approximately $194,000. HPM Partners LLC acquired a new position in shares of Casa Systems in the second quarter valued at approximately $213,000. Rhumbline Advisers acquired a new position in shares of Casa Systems in the second quarter valued at approximately $213,000. NumerixS Investment Technologies Inc grew its position in shares of Casa Systems by 3,250.0% in the second quarter. NumerixS Investment Technologies Inc now owns 13,400 shares of the company’s stock valued at $215,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Casa Systems by 59.5% in the second quarter. Raymond James & Associates now owns 17,757 shares of the company’s stock valued at $290,000 after purchasing an additional 6,625 shares during the last quarter. 63.72% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the company. Macquarie downgraded Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Wednesday, August 15th. Zacks Investment Research downgraded Casa Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Northland Securities set a $17.00 target price on Casa Systems and gave the company a “buy” rating in a research report on Wednesday, August 15th. Loop Capital decreased their target price on Casa Systems to $12.00 and set a “positive” rating on the stock in a research report on Wednesday, August 15th. Finally, Morgan Stanley decreased their target price on Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $19.67.
Shares of NASDAQ:CASA opened at $15.18 on Friday. The company has a market cap of $1.35 billion and a P/E ratio of 13.28. Casa Systems Inc has a 1 year low of $11.26 and a 1 year high of $34.21. The company has a debt-to-equity ratio of 3.43, a quick ratio of 4.61 and a current ratio of 5.09.
Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 109.09% and a net margin of 17.93%. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, analysts anticipate that Casa Systems Inc will post 0.81 EPS for the current fiscal year.
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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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