Research analysts at StockNews.com started coverage on shares of Viasat (NASDAQ:VSAT – Get Free Report) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the communications equipment provider’s stock.
Several other analysts have also recently weighed in on VSAT. Morgan Stanley lowered their price target on Viasat from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 6th. TheStreet downgraded Viasat from a “c-” rating to a “d+” rating in a research note on Monday, July 24th. Needham & Company LLC decreased their price target on Viasat from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Barclays lowered their price target on Viasat from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Viasat in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.80.
Get Our Latest Stock Report on VSAT
Viasat Trading Down 8.2 %
Viasat (NASDAQ:VSAT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.22 by ($1.05). Viasat had a return on equity of 26.53% and a net margin of 37.40%. The company had revenue of $779.79 million for the quarter, compared to analyst estimates of $1.06 billion. Analysts expect that Viasat will post 0.56 EPS for the current fiscal year.
Insider Transactions at Viasat
In related news, insider James Michael Dodd sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.31, for a total value of $156,550.00. Following the transaction, the insider now directly owns 17,856 shares of the company’s stock, valued at approximately $559,071.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider James Michael Dodd sold 5,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $31.31, for a total transaction of $156,550.00. Following the completion of the sale, the insider now owns 17,856 shares in the company, valued at approximately $559,071.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Baldridge sold 3,492 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $27.55, for a total transaction of $96,204.60. The disclosure for this sale can be found here. Insiders have sold 9,064 shares of company stock valued at $271,334 over the last ninety days. Insiders own 3.10% of the company’s stock.
Institutional Investors Weigh In On Viasat
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VSAT. Louisiana State Employees Retirement System grew its holdings in shares of 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 worth $1,655,000 after purchasing an additional 4,500 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Viasat by 14.7% in the first quarter. Neuberger Berman Group LLC now owns 1,971,709 shares of the communications equipment provider’s stock valued at $66,582,000 after buying an additional 253,239 shares during the last quarter. Hi Line Capital Management LLC grew its holdings in Viasat by 0.9% in the first quarter. Hi Line Capital Management LLC now owns 364,485 shares of the communications equipment provider’s stock valued at $12,334,000 after purchasing an additional 3,209 shares during the last quarter. Barclays PLC raised its holdings in shares of Viasat by 31.8% in the 1st quarter. Barclays PLC now owns 32,383 shares of the communications equipment provider’s stock worth $1,096,000 after purchasing an additional 7,812 shares during the period. Finally, FNY Investment Advisers LLC grew its stake in Viasat by 31.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 5,500 shares of the communications equipment provider’s stock worth $226,000 after buying an additional 1,300 shares during the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.
About Viasat
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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