UBS Asset Management Americas Inc. Purchases Shares of 17,500 Casa Systems Inc (NASDAQ:CASA)

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.

Casa Systems (NASDAQ:CASA) last posted its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.15. Casa Systems had a return on equity of 32.65% and a net margin of 8.71%. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $49.59 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was down 24.2% on a year-over-year basis. On average, equities research analysts predict that Casa Systems Inc will post 0.12 earnings per share for the current fiscal year.

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

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