Shares of Casa Systems, Inc. (NASDAQ:CASA) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.00.
CASA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Casa Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 9th. Morgan Stanley lifted their target price on Casa Systems from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call.
Shares of NASDAQ CASA traded up $0.16 during mid-day trading on Monday, reaching $6.90. The company had a trading volume of 217,735 shares, compared to its average volume of 489,427. The company has a debt-to-equity ratio of 3.36, a quick ratio of 2.91 and a current ratio of 3.99. Casa Systems has a one year low of $3.85 and a one year high of $13.15. The firm has a market cap of $590.14 million, a price-to-earnings ratio of 20.42 and a beta of 1.07. The business’s 50-day simple moving average is $7.19 and its 200 day simple moving average is $8.31.
In other news, CTO Weidong Chen sold 65,000 shares of Casa Systems stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $6.98, for a total transaction of $453,700.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 195,000 shares of company stock worth $1,430,000 over the last three months. Insiders own 65.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of Casa Systems by 19.9% in the first quarter. Mercer Global Advisors Inc. ADV now owns 12,272 shares of the company’s stock worth $117,000 after acquiring an additional 2,033 shares during the period. Federated Hermes Inc. acquired a new position in shares of Casa Systems in the first quarter worth approximately $26,000. Dimensional Fund Advisors LP lifted its stake in shares of Casa Systems by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 500,481 shares of the company’s stock worth $3,088,000 after acquiring an additional 4,592 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Casa Systems by 1.4% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 441,090 shares of the company’s stock worth $3,912,000 after acquiring an additional 6,120 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Casa Systems by 10.1% in the second quarter. Swiss National Bank now owns 74,100 shares of the company’s stock worth $657,000 after acquiring an additional 6,800 shares during the period. 68.70% of the stock is currently owned by hedge funds and other institutional investors.
About Casa Systems
Casa Systems, Inc engages in the provision and development of digital cable video and broadband services. Its products include cable, fixed, mobile, optical, and Wi-Fi networks; and casa access devices. The company was founded by Jerry Guo in 2003 and is headquartered in Andover, MA.
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