42,052 Shares in Casa Systems, Inc. (NASDAQ:CASA) Acquired by Alpha Paradigm Partners LLC

Alpha Paradigm Partners LLC purchased a new position in shares of Casa Systems, Inc. (NASDAQ:CASA) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 42,052 shares of the company’s stock, valued at approximately $373,000.

A number of other large investors have also recently added to or reduced their stakes in CASA. Federated Hermes Inc. acquired a new position in Casa Systems in the 1st quarter valued at $26,000. Lazard Asset Management LLC bought a new position in shares of Casa Systems in the 1st quarter valued at $69,000. Marshall Wace North America L.P. bought a new position in shares of Casa Systems in the 1st quarter valued at $75,000. White Pine Capital LLC bought a new position in shares of Casa Systems in the 2nd quarter valued at $90,000. Finally, Mercer Global Advisors Inc. ADV grew its position in Casa Systems by 19.9% during the 1st 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 last quarter. 68.70% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on CASA. Morgan Stanley upped their price target 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. Zacks Investment Research raised Casa Systems from a “sell” rating to a “hold” rating in a research note on Monday, August 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

In other Casa Systems news, CTO Weidong Chen sold 65,000 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $7.12, for a total transaction of $462,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 195,000 shares of company stock worth $1,430,000. Company insiders own 65.10% of the company’s stock.

Shares of NASDAQ CASA opened at $6.50 on Thursday. The stock has a fifty day simple moving average of $6.90 and a two-hundred day simple moving average of $8.06. Casa Systems, Inc. has a 1-year low of $4.03 and a 1-year high of $13.15. The firm has a market cap of $555.93 million, a price-to-earnings ratio of 19.70 and a beta of 1.07. The company has a current ratio of 3.99, a quick ratio of 2.91 and a debt-to-equity ratio of 3.36.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $92.73 million during the quarter, compared to analyst estimates of $90.53 million. Casa Systems had a return on equity of 37.61% and a net margin of 6.90%. Analysts forecast that Casa Systems, Inc. will post 0.12 EPS for the current year.

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.

Further Reading: Dual Listing

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Institutional Ownership by Quarter for Casa Systems (NASDAQ:CASA)

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