IndexIQ Advisors LLC acquired a new stake in Casa Systems Inc (NASDAQ:CASA) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 54,701 shares of the company’s stock, valued at approximately $191,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Casa Systems during the fourth quarter worth approximately $29,000. Marshall Wace North America L.P. acquired a new stake in shares of Casa Systems in the first quarter valued at approximately $75,000. SG Americas Securities LLC bought a new position in Casa Systems in the 1st quarter worth approximately $41,000. Zebra Capital Management LLC lifted its holdings in Casa Systems by 22.2% during the 4th quarter. Zebra Capital Management LLC now owns 16,035 shares of the company’s stock worth $65,000 after buying an additional 2,908 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Casa Systems during the 4th quarter worth $92,000. 69.45% of the stock is owned by institutional investors.
NASDAQ:CASA opened at $4.21 on Friday. The company has a debt-to-equity ratio of 7.30, a current ratio of 4.04 and a quick ratio of 2.90. Casa Systems Inc has a 1-year low of $1.85 and a 1-year high of $8.03. The business’s 50-day moving average price is $4.11 and its two-hundred day moving average price is $3.80.
Casa Systems (NASDAQ:CASA) last posted its earnings results on Thursday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The company had revenue of $83.62 million for the quarter, compared to analyst estimates of $70.95 million. Casa Systems had a positive return on equity of 3.56% and a negative net margin of 9.60%. Analysts predict that Casa Systems Inc will post -0.1 earnings per share for the current year.
A number of research firms have recently weighed in on CASA. JPMorgan Chase & Co. initiated coverage on Casa Systems in a research report on Tuesday, April 14th. They set an “underweight” rating for the company. Barclays reissued a “hold” rating and set a $5.00 price objective on shares of Casa Systems in a report on Sunday, May 3rd. Morgan Stanley raised their target price on shares of Casa Systems from $2.70 to $4.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Northland Securities reiterated a “buy” rating and set a $7.00 price target on shares of Casa Systems in a research report on Friday, May 1st. Finally, BidaskClub lowered shares of Casa Systems from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Casa Systems currently has a consensus rating of “Hold” and an average target price of $5.13.
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 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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