Schonfeld Strategic Advisors LLC Invests $82,000 in Casa Systems, Inc. (NASDAQ:CASA)

Schonfeld Strategic Advisors LLC bought a new position in Casa Systems, Inc. (NASDAQ:CASA) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,300 shares of the company’s stock, valued at approximately $82,000.

Several other hedge funds have also recently modified their holdings of CASA. Assenagon Asset Management S.A. increased its holdings in shares of Casa Systems by 250.2% in the third quarter. Assenagon Asset Management S.A. now owns 772,233 shares of the company’s stock worth $3,112,000 after purchasing an additional 551,748 shares during the last quarter. BlackRock Inc. grew its position in Casa Systems by 13.1% in the third quarter. BlackRock Inc. now owns 2,446,049 shares of the company’s stock worth $9,857,000 after acquiring an additional 283,111 shares in the last quarter. Globeflex Capital L P purchased a new position in Casa Systems in the third quarter worth about $1,052,000. Peregrine Capital Management LLC grew its position in Casa Systems by 18.5% in the third quarter. Peregrine Capital Management LLC now owns 1,530,880 shares of the company’s stock worth $6,169,000 after acquiring an additional 239,346 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Casa Systems by 154.2% in the second quarter. Jacobs Levy Equity Management Inc. now owns 354,039 shares of the company’s stock worth $1,473,000 after acquiring an additional 214,760 shares in the last quarter. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

CASA has been the subject of several recent research reports. Northland Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Casa Systems in a research report on Tuesday, December 15th. Zacks Investment Research lowered Casa Systems from a “buy” rating to a “hold” rating in a report on Friday, November 6th. TheStreet raised Casa Systems from a “d” rating to a “c-” rating in a research report on Monday, December 14th. ValuEngine downgraded Casa Systems from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Morgan Stanley lifted their target price on Casa Systems from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.44.

Casa Systems stock opened at $6.17 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.28 and a debt-to-equity ratio of 6.05. Casa Systems, Inc. has a 52 week low of $1.85 and a 52 week high of $7.97. The company has a market capitalization of $515.34 million, a price-to-earnings ratio of -20.57 and a beta of 1.17. The stock has a 50-day moving average price of $6.04 and a 200 day moving average price of $4.92.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $105.75 million during the quarter, compared to analysts’ expectations of $92.30 million. Casa Systems had a positive return on equity of 11.73% and a negative net margin of 6.24%. Research analysts anticipate that Casa Systems, Inc. will post -0.03 EPS for the current fiscal year.

About Casa Systems

Casa Systems, Inc, a communications technology company, provides solutions for next-generation centralized, distributed, and virtualized architectures for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa.

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

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