Viasat (NASDAQ:VSAT – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Other research analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Viasat from $79.00 to $81.00 in a report on Friday, May 26th. Morgan Stanley decreased their target price on shares of Viasat from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, March 23rd. Raymond James reissued a “market perform” rating on shares of Viasat in a report on Thursday, July 13th. Finally, TheStreet raised shares of Viasat from a “d” rating to a “c-” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.80.
Viasat Trading Down 4.8 %
Shares of NASDAQ VSAT opened at $31.28 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.07 and a current ratio of 2.35. Viasat has a 52-week low of $27.11 and a 52-week high of $47.35. The firm has a 50 day moving average price of $40.79 and a two-hundred day moving average price of $36.61. The stock has a market cap of $2.41 billion, a P/E ratio of 2.22 and a beta of 1.22.
Insider Activity
In other news, insider Craig Andrew Miller sold 735 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $45.00, for a total transaction of $33,075.00. Following the transaction, the insider now owns 9,949 shares in the company, valued at $447,705. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,479 shares of company stock valued at $64,376. 4.90% of the stock is currently owned by company insiders.
Institutional Trading of Viasat
A number of hedge funds and other institutional investors have recently modified their holdings of VSAT. Louisiana State Employees Retirement System lifted its stake in Viasat by 12.6% in the second quarter. Louisiana State Employees Retirement System now owns 40,100 shares of the communications equipment provider’s stock valued at $1,655,000 after buying an additional 4,500 shares during the last quarter. Pacific Wealth Management acquired a new stake in shares of Viasat during the second quarter valued at $219,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Viasat during the second quarter valued at $536,000. FNY Investment Advisers LLC boosted its stake in shares of Viasat by 31.0% during the second quarter. FNY Investment Advisers LLC now owns 5,500 shares of the communications equipment provider’s stock valued at $226,000 after acquiring an additional 1,300 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new stake in Viasat in the 2nd quarter worth about $254,000. 88.91% of the stock is owned by institutional investors and hedge funds.
Viasat Company Profile
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.
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