Northern Trust Corp trimmed its stake in Casa Systems Inc (NASDAQ:CASA) by 32.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,730 shares of the company’s stock after selling 68,049 shares during the quarter. Northern Trust Corp owned approximately 0.17% of Casa Systems worth $2,330,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of CASA. UBS Group AG bought a new position in shares of Casa Systems in the 1st quarter worth about $617,000. First Quadrant L P CA bought a new position in shares of Casa Systems in the 2nd quarter worth about $401,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of 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 worth $10,357,000 after acquiring an additional 611,655 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Casa Systems in the 2nd quarter worth about $1,331,000. Finally, Engineers Gate Manager LP bought a new position in shares of Casa Systems in the 2nd quarter worth about $1,696,000. Institutional investors and hedge funds own 61.72% of the company’s stock.
Several research analysts recently issued reports on the stock. Macquarie lowered shares of Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Wednesday, August 15th. Needham & Company LLC started coverage on shares of Casa Systems in a research note on Thursday. They set a “buy” rating for the company. Zacks Investment Research lowered shares of Casa Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Northland Securities set a $17.00 price objective on shares of Casa Systems and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Loop Capital reduced their price objective on shares of Casa Systems to $12.00 and set a “positive” rating for the company in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $19.75.
NASDAQ:CASA opened at $15.08 on Friday. The stock has a market cap of $1.30 billion and a price-to-earnings ratio of 19.09. The company has a debt-to-equity ratio of 3.43, a current ratio of 5.09 and a quick ratio of 4.61. Casa Systems Inc has a fifty-two week low of $11.26 and a fifty-two week high of $34.21.
Casa Systems (NASDAQ:CASA) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The business had revenue of $71.50 million during the quarter, compared to analyst estimates of $75.88 million. Casa Systems had a net margin of 17.93% and a return on equity of 109.09%. Casa Systems’s revenue was down 24.1% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Equities research analysts expect that Casa Systems Inc will post 0.81 earnings per share for the current year.
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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 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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