First Quadrant L P CA reduced its stake in Casa Systems Inc (NASDAQ:CASA) by 60.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,746 shares of the company’s stock after selling 14,818 shares during the period. First Quadrant L P CA’s holdings in Casa Systems were worth $144,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Casa Systems in the 1st quarter valued at about $42,491,000. Overbrook Management Corp raised its holdings in Casa Systems by 898.8% in the 2nd 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. purchased a new stake in Casa Systems in the 2nd quarter valued at about $15,563,000. Gilder Gagnon Howe & Co. LLC raised its holdings in Casa Systems by 2,712.2% in the 2nd 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. Finally, Millennium Management LLC purchased a new stake in Casa Systems in the 2nd quarter valued at about $8,329,000. Hedge funds and other institutional investors own 61.25% of the company’s stock.
Several brokerages recently issued reports on CASA. Macquarie lowered shares of Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Wednesday, August 15th. Zacks Investment Research lowered shares of Casa Systems from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Northland Securities set a $17.00 price objective on shares of Casa Systems and gave the company a “buy” rating in a report on Wednesday, August 15th. Loop Capital reduced their price objective on shares of Casa Systems to $12.00 and set a “positive” rating on the stock in a report on Wednesday, August 15th. Finally, Morgan Stanley reduced their price objective on shares of Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Casa Systems currently has a consensus rating of “Buy” and an average price target of $21.75.
Casa Systems (NASDAQ:CASA) last released its earnings results on Tuesday, August 14th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $68.70 million during the quarter, compared to analyst estimates of $90.64 million. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that Casa Systems Inc will post 0.74 EPS for the current fiscal year.
Casa Systems 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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