Leonteq Securities AG lowered its holdings in Viasat Inc. (NASDAQ:VSAT – Free Report) by 71.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,224 shares of the communications equipment provider’s stock after selling 10,621 shares during the quarter. Leonteq Securities AG’s holdings in Viasat were worth $193,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC purchased a new stake in shares of Viasat in the 4th quarter valued at approximately $38,000. EFG International AG acquired a new position in shares of Viasat in the 4th quarter worth approximately $41,000. Danske Bank A S acquired a new position in shares of Viasat in the 4th quarter worth approximately $47,000. Finally, Larson Financial Group LLC boosted its position in shares of Viasat by 7,380.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 2,214 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on VSAT. Zacks Research lowered Viasat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Oppenheimer initiated coverage on Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective for the company. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays set a $49.00 target price on Viasat in a research note on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.11.
Insiders Place Their Bets
In related news, Director John P. Stenbit sold 653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $46,846.22. Following the sale, the director owned 29,597 shares of the company’s stock, valued at $2,123,288.78. This trade represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the completion of the transaction, the director owned 11,000 shares of the company’s stock, valued at $759,000. This represents a 18.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 438,803 shares of company stock worth $28,655,600. Corporate insiders own 2.20% of the company’s stock.
Viasat Stock Down 3.5%
Shares of NASDAQ:VSAT traded down $2.96 during trading on Tuesday, hitting $80.84. The company’s stock had a trading volume of 296,676 shares, compared to its average volume of 2,099,888. Viasat Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $93.03. The business has a 50 day moving average price of $70.51 and a two-hundred day moving average price of $54.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41. The company has a market capitalization of $11.04 billion, a PE ratio of -278.76 and a beta of 1.70.
Viasat (NASDAQ:VSAT – Get Free Report) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Viasat Inc. will post -0.39 EPS for the current fiscal year.
Viasat Profile
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.
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