Peregrine Capital Management LLC Has $5.37 Million Stock Position in Casa Systems Inc (NASDAQ:CASA)

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Peregrine Capital Management LLC grew its stake in Casa Systems Inc (NASDAQ:CASA) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,291,534 shares of the company’s stock after purchasing an additional 18,989 shares during the quarter. Peregrine Capital Management LLC owned about 1.56% of Casa Systems worth $5,373,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CASA. Alliancebernstein L.P. increased its holdings in Casa Systems by 40.9% during the 1st quarter. Alliancebernstein L.P. now owns 4,837,539 shares of the company’s stock worth $16,931,000 after purchasing an additional 1,404,069 shares in the last quarter. GSA Capital Partners LLP bought a new position in Casa Systems during the 1st quarter worth about $494,000. Disciplined Growth Investors Inc. MN increased its holdings in Casa Systems by 21.7% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 653,964 shares of the company’s stock worth $2,289,000 after purchasing an additional 116,604 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Casa Systems by 79.7% during the 1st quarter. Nuveen Asset Management LLC now owns 223,595 shares of the company’s stock worth $783,000 after purchasing an additional 99,194 shares in the last quarter. Finally, RMB Capital Management LLC bought a new position in Casa Systems during the 1st quarter worth about $333,000. 70.19% of the stock is currently owned by institutional investors.

Shares of Casa Systems stock opened at $5.61 on Friday. The company has a debt-to-equity ratio of 7.30, a current ratio of 4.04 and a quick ratio of 2.90. Casa Systems Inc has a twelve month low of $1.85 and a twelve month high of $8.03. The company’s fifty day moving average is $4.38 and its 200 day moving average is $4.02.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. Casa Systems had a negative net margin of 9.96% and a negative return on equity of 7.58%. The firm had revenue of $83.35 million for the quarter, compared to analyst estimates of $79.50 million. Analysts expect that Casa Systems Inc will post -0.1 EPS for the current year.

CASA has been the subject of several analyst reports. Northland Securities restated a “buy” rating and issued a $8.00 price objective on shares of Casa Systems in a report on Friday. JPMorgan Chase & Co. initiated coverage on Casa Systems in a report on Tuesday, April 14th. They issued an “underweight” rating for the company. Barclays restated a “hold” rating and issued a $5.00 price objective on shares of Casa Systems in a report on Sunday, May 3rd. BidaskClub upgraded Casa Systems from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Investment Research cut Casa Systems from a “buy” rating to a “hold” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Casa Systems has a consensus rating of “Hold” and an average target price of $5.75.

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

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