Viasat (NASDAQ:VSAT) Hits New 52-Week High – Here’s What Happened

Shares of Viasat Inc. (NASDAQ:VSAT) hit a new 52-week high during trading on Tuesday . The company traded as high as $64.92 and last traded at $64.08, with a volume of 1424024 shares trading hands. The stock had previously closed at $62.85.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VSAT. Raymond James Financial reaffirmed a “reduce” rating on shares of Viasat in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $48.00 in a report on Friday, February 6th. William Blair reiterated an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Needham & Company LLC boosted their price objective on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Monday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Viasat currently has a consensus rating of “Hold” and a consensus target price of $51.43.

Viasat Price Performance

The company’s 50-day moving average price is $50.26 and its two-hundred day moving average price is $42.12. The company has a market cap of $8.57 billion, a P/E ratio of -24.36 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35.

Insider Activity at Viasat

In other news, CAO Camellia E. Fitzgerald sold 2,810 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total value of $134,880.00. Following the completion of the sale, the chief accounting officer owned 9,946 shares of the company’s stock, valued at approximately $477,408. The trade was a 22.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,881 shares of company stock worth $1,939,317 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Viasat

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brightline Capital Management LLC grew its position in shares of Viasat by 1.8% during the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after buying an additional 36,000 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Viasat during the 3rd quarter valued at about $4,230,000. Inspire Advisors LLC bought a new stake in shares of Viasat during the 3rd quarter valued at about $4,498,000. Hudson Bay Capital Management LP bought a new stake in shares of Viasat during the 3rd quarter valued at about $7,325,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Viasat during the 2nd quarter valued at about $201,000. Institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.