Morgan Stanley Boosts Stake in Casa Systems Inc (CASA)

Morgan Stanley lifted its holdings in Casa Systems Inc (NASDAQ:CASA) by 1,038.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,987 shares of the company’s stock after buying an additional 533,585 shares during the period. Morgan Stanley owned approximately 0.68% of Casa Systems worth $8,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. LPL Financial LLC purchased a new position in shares of Casa Systems in the third quarter worth about $150,000. Victory Capital Management Inc. purchased a new position in shares of Casa Systems in the third quarter worth about $194,000. Brown Advisory Inc. purchased a new position in shares of Casa Systems in the third quarter worth about $220,000. American International Group Inc. lifted its stake in shares of Casa Systems by 90.2% in the third quarter. American International Group Inc. now owns 17,962 shares of the company’s stock worth $265,000 after buying an additional 8,516 shares in the last quarter. Finally, HPM Partners LLC lifted its stake in shares of Casa Systems by 42.8% in the third quarter. HPM Partners LLC now owns 18,600 shares of the company’s stock worth $274,000 after buying an additional 5,576 shares in the last quarter. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CASA stock opened at $11.77 on Tuesday. The company has a current ratio of 5.09, a quick ratio of 4.61 and a debt-to-equity ratio of 3.43. Casa Systems Inc has a 12 month low of $10.50 and a 12 month high of $34.21. The stock has a market cap of $978.24 million, a price-to-earnings ratio of 14.90 and a beta of -0.38.

Several equities analysts have recently weighed in on CASA shares. Needham & Company LLC started coverage on shares of Casa Systems in a research note on Thursday, November 29th. They issued a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus started coverage on shares of Casa Systems in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley downgraded shares of Casa Systems from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $18.00 to $11.00 in a research note on Friday, January 18th. Zacks Investment Research raised shares of Casa Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, ValuEngine downgraded shares of Casa Systems from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Casa Systems presently has an average rating of “Hold” and an average target price of $17.25.

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About Casa Systems

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

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