Laurion Capital Management LP increased its holdings in shares of Casa Systems Inc (NASDAQ:CASA) by 55.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 155,180 shares of the company’s stock after purchasing an additional 55,180 shares during the period. Laurion Capital Management LP owned 0.19% of Casa Systems worth $2,534,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CASA. BlackRock Inc. bought a new position in Casa Systems during the first quarter worth about $42,491,000. Overbrook Management Corp boosted its holdings in shares of Casa Systems by 898.8% during the second quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock worth $23,322,000 after acquiring an additional 1,285,176 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Casa Systems by 2,712.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock worth $10,357,000 after acquiring an additional 611,655 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Casa Systems during the first quarter worth approximately $10,020,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Casa Systems during the first quarter worth approximately $6,811,000. Institutional investors and hedge funds own 60.74% of the company’s stock.
Shares of NASDAQ:CASA opened at $14.93 on Monday. Casa Systems Inc has a 12-month low of $11.26 and a 12-month high of $34.21. The company has a market cap of $1.29 billion and a PE ratio of 18.90. The company has a debt-to-equity ratio of 2.74, a current ratio of 5.54 and a quick ratio of 5.13.
Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Tuesday, August 14th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $68.70 million during the quarter, compared to the consensus estimate of $90.64 million. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. sell-side analysts predict that Casa Systems Inc will post 0.73 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Macquarie cut Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Wednesday, August 15th. Northland Securities set a $17.00 price objective on Casa Systems and gave the stock a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research cut Casa Systems from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Loop Capital reduced their price objective on Casa Systems to $12.00 and set a “positive” rating for the company in a report on Wednesday, August 15th. Finally, Morgan Stanley reduced their price objective on Casa Systems from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Casa Systems has a consensus rating of “Hold” and a consensus price target of $23.38.
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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