UBS Asset Management Americas Inc. purchased a new stake in shares of Casa Systems Inc (NASDAQ:CASA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,500 shares of the company’s stock, valued at approximately $113,000.
A number of other institutional investors have also made changes to their positions in CASA. Vaughan Nelson Investment Management L.P. acquired a new stake in Casa Systems during the 2nd quarter valued at $10,655,000. Peregrine Capital Management LLC lifted its holdings in Casa Systems by 71.4% during the 2nd quarter. Peregrine Capital Management LLC now owns 969,918 shares of the company’s stock valued at $6,237,000 after purchasing an additional 404,079 shares during the last quarter. BlackRock Inc. lifted its holdings in Casa Systems by 15.8% during the 2nd quarter. BlackRock Inc. now owns 2,024,287 shares of the company’s stock valued at $13,016,000 after purchasing an additional 276,302 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Casa Systems by 25.6% during the 2nd quarter. AQR Capital Management LLC now owns 655,855 shares of the company’s stock valued at $4,217,000 after purchasing an additional 133,641 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new stake in Casa Systems during the 2nd quarter valued at $820,000. 68.20% of the stock is owned by institutional investors and hedge funds.
CASA opened at $7.12 on Tuesday. Casa Systems Inc has a fifty-two week low of $5.35 and a fifty-two week high of $16.42. The company has a debt-to-equity ratio of 4.20, a quick ratio of 5.02 and a current ratio of 6.25. The company has a market capitalization of $575.91 million, a P/E ratio of 26.42 and a beta of 0.91. The stock has a fifty day moving average of $6.85 and a 200-day moving average of $6.94.
Several brokerages have issued reports on CASA. Morgan Stanley cut their price target on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Barclays began coverage on Casa Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $8.00 price target for the company. Raymond James downgraded Casa Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 30th. Zacks Investment Research raised Casa Systems from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Monday, October 7th. Finally, ValuEngine raised Casa Systems from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.58.
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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