Morgan Stanley lifted its holdings in Casa Systems Inc (NASDAQ:CASA) by 1,038.1% in the third quarter, HoldingsChannel reports. The firm owned 584,987 shares of the company’s stock after buying an additional 533,585 shares during the quarter. Morgan Stanley’s holdings in Casa Systems were worth $8,628,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Casa Systems by 99.5% in the third quarter. BlackRock Inc. now owns 1,800,473 shares of the company’s stock valued at $26,557,000 after purchasing an additional 898,063 shares in the last quarter. Elk Creek Partners LLC grew its holdings in shares of Casa Systems by 9.6% in the third quarter. Elk Creek Partners LLC now owns 1,303,581 shares of the company’s stock valued at $19,228,000 after purchasing an additional 114,383 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of Casa Systems by 22.2% in the third quarter. Thornburg Investment Management Inc. now owns 1,288,438 shares of the company’s stock valued at $19,004,000 after purchasing an additional 234,347 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Casa Systems by 1.7% in the third quarter. Point72 Asset Management L.P. now owns 969,429 shares of the company’s stock valued at $14,299,000 after purchasing an additional 16,372 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN acquired a new position in shares of Casa Systems in the third quarter valued at approximately $8,807,000. Hedge funds and other institutional investors own 63.86% of the company’s stock.

NASDAQ CASA opened at $11.77 on Tuesday. The company has a quick ratio of 4.61, a current ratio of 5.09 and a debt-to-equity ratio of 3.43. Casa Systems Inc has a 52 week low of $10.50 and a 52 week high of $34.21. The company has a market cap of $978.24 million, a price-to-earnings ratio of 14.90 and a beta of -0.38.

A number of brokerages recently weighed in on CASA. Needham & Company LLC began coverage on shares of Casa Systems in a report on Sunday, December 9th. They issued a “buy” rating and a $15.08 price objective for the company. Stifel Nicolaus began coverage on shares of Casa Systems in a report on Tuesday, October 23rd. They issued a “buy” rating and a $18.00 price objective for the company. Morgan Stanley cut shares of Casa Systems from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $18.00 to $11.00 in a report on Friday, January 18th. Zacks Investment Research cut shares of Casa Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, ValuEngine cut shares of Casa Systems from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock 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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