Deutsche Bank AG raised its position in shares of Casa Systems Inc (NASDAQ:CASA) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,501 shares of the company’s stock after buying an additional 3,288 shares during the period. Deutsche Bank AG’s holdings in Casa Systems were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CASA. Royce & Associates LP purchased a new position in Casa Systems in the fourth quarter valued at $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in Casa Systems in the fourth quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Casa Systems in the fourth quarter valued at $33,000. Great West Life Assurance Co. Can purchased a new position in Casa Systems in the fourth quarter valued at $79,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Casa Systems by 356.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,129 shares of the company’s stock valued at $120,000 after purchasing an additional 7,130 shares during the period. Institutional investors and hedge funds own 66.30% of the company’s stock.
A number of research analysts recently issued reports on CASA shares. Stifel Nicolaus lowered Casa Systems from a “buy” rating to a “hold” rating and decreased their target price for the company from $18.00 to $14.00 in a report on Friday, January 18th. Zacks Investment Research lowered Casa Systems from a “hold” rating to a “sell” rating in a report on Monday, January 21st. DA Davidson started coverage on Casa Systems in a report on Monday, March 18th. They issued a “buy” rating and a $12.00 target price for the company. ValuEngine upgraded Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, Raymond James lowered Casa Systems from an “outperform” rating to a “market perform” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Casa Systems presently has an average rating of “Hold” and a consensus target price of $15.63.
Casa Systems (NASDAQ:CASA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.18). The business had revenue of $35.50 million for the quarter, compared to analysts’ expectations of $55.83 million. Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The firm’s quarterly revenue was down 60.2% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, equities research analysts expect that Casa Systems Inc will post -0.08 EPS for the current fiscal year.
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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 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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