Michael T. Hayashi Acquires 1,000 Shares of Casa Systems Inc (NASDAQ:CASA) Stock

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Casa Systems Inc (NASDAQ:CASA) Director Michael T. Hayashi bought 1,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $10.35 per share, for a total transaction of $10,350.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

NASDAQ:CASA opened at $6.51 on Thursday. The stock’s 50 day moving average price is $6.68 and its 200 day moving average price is $7.97. Casa Systems Inc has a 52 week low of $5.46 and a 52 week high of $16.75. The company has a market capitalization of $535.67 million, a P/E ratio of 8.14 and a beta of 0.76. The company has a debt-to-equity ratio of 4.20, a quick ratio of 5.02 and a current ratio of 6.25.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15. Casa Systems had a return on equity of 32.65% and a net margin of 8.71%. The firm had revenue of $52.10 million for the quarter, compared to the consensus estimate of $49.59 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was down 24.2% on a year-over-year basis. As a group, sell-side analysts forecast that Casa Systems Inc will post 0.12 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Barclays assumed coverage on Casa Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $8.00 target price on the stock. Morgan Stanley dropped their price objective on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Zacks Investment Research upgraded Casa Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Tuesday, July 16th. ValuEngine upgraded Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, Raymond James downgraded Casa Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.21.

A number of large investors have recently added to or reduced their stakes in CASA. Geode Capital Management LLC lifted its holdings in Casa Systems by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 386,842 shares of the company’s stock worth $5,079,000 after buying an additional 54,942 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Casa Systems by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,129 shares of the company’s stock worth $120,000 after buying an additional 7,130 shares in the last quarter. Millennium Management LLC acquired a new stake in Casa Systems during the 4th quarter worth approximately $265,000. FMR LLC lifted its holdings in Casa Systems by 48.3% during the 4th quarter. FMR LLC now owns 301,771 shares of the company’s stock worth $3,962,000 after buying an additional 98,226 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Casa Systems by 6.1% during the 4th quarter. Deutsche Bank AG now owns 57,501 shares of the company’s stock worth $752,000 after buying an additional 3,288 shares in the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.

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 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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