Stock Traders Purchase Large Volume of Put Options on Casa Systems (NASDAQ:CASA)


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Casa Systems, Inc. (NASDAQ:CASA) saw unusually large options trading on Monday. Traders acquired 1,398 put options on the company. This represents an increase of approximately 1,453% compared to the average daily volume of 90 put options.

Several analysts have recently commented on the company. Zacks Investment Research lowered Casa Systems from a “buy” rating to a “hold” rating in a report on Friday, November 6th. Barclays upgraded Casa Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $6.00 to $9.00 in a report on Thursday, January 14th. TheStreet upgraded Casa Systems from a “d” rating to a “c-” rating in a report on Monday, December 14th. Morgan Stanley upped their target price on Casa Systems from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 25th. Finally, Northland Securities upped their target price on Casa Systems from $9.00 to $12.00 in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.44.

NASDAQ CASA opened at $9.74 on Tuesday. The stock’s fifty day moving average price is $8.14 and its 200 day moving average price is $5.84. The company has a market cap of $813.52 million, a price-to-earnings ratio of -32.47 and a beta of 1.20. The company has a debt-to-equity ratio of 6.05, a current ratio of 3.28 and a quick ratio of 2.32. Casa Systems has a 1 year low of $1.85 and a 1 year high of $13.15.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings results on Wednesday, February 17th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.16. Casa Systems had a positive return on equity of 11.73% and a negative net margin of 6.24%. Research analysts expect that Casa Systems will post -0.03 earnings per share for the current year.

In other Casa Systems news, SVP Lucy Xie sold 83,332 shares of the company’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $11.33, for a total transaction of $944,151.56. Following the completion of the sale, the senior vice president now owns 2,138,004 shares in the company, valued at $24,223,585.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 63.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Casa Systems by 194.8% during the 4th quarter. JPMorgan Chase & Co. now owns 120,860 shares of the company’s stock worth $746,000 after purchasing an additional 79,860 shares during the period. Walleye Trading LLC acquired a new stake in Casa Systems during the 4th quarter worth about $73,000. Nuveen Asset Management LLC grew its position in Casa Systems by 11.8% during the 4th quarter. Nuveen Asset Management LLC now owns 139,279 shares of the company’s stock worth $859,000 after purchasing an additional 14,663 shares during the period. Engineers Gate Manager LP grew its position in Casa Systems by 63.7% during the 4th quarter. Engineers Gate Manager LP now owns 84,146 shares of the company’s stock worth $519,000 after purchasing an additional 32,733 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in Casa Systems during the 4th quarter worth about $113,000. 68.29% of the stock is currently owned by institutional investors.

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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