Caxton Associates LLP bought a new stake in Viasat Inc. (NASDAQ:VSAT – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 7,854 shares of the communications equipment provider’s stock, valued at approximately $360,000.
A number of other hedge funds have also recently added to or reduced their stakes in VSAT. Price T Rowe Associates Inc. MD increased its holdings in Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after buying an additional 3,112,670 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after acquiring an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Viasat by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after acquiring an additional 1,128,338 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Viasat by 43.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider’s stock valued at $96,890,000 after acquiring an additional 1,002,737 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after acquiring an additional 796,349 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Viasat
In other news, CEO Mark D. Dankberg sold 400,000 shares of Viasat stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $64.76, for a total value of $25,904,000.00. Following the sale, the chief executive officer directly owned 1,082,196 shares of the company’s stock, valued at $70,083,012.96. The trade was a 26.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Garrett L. Chase sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $62.41, for a total value of $249,640.00. Following the sale, the chief financial officer owned 34,239 shares of the company’s stock, valued at $2,136,855.99. The trade was a 10.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 442,803 shares of company stock valued at $28,944,520. 2.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Report on VSAT
Viasat Stock Down 1.0%
VSAT stock opened at $74.13 on Wednesday. Viasat Inc. has a 52 week low of $14.50 and a 52 week high of $93.03. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The firm has a 50-day simple moving average of $72.17 and a 200-day simple moving average of $58.73. The stock has a market capitalization of $10.12 billion, a P/E ratio of -255.62 and a beta of 1.70.
Viasat (NASDAQ:VSAT – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share 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 period in the prior year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Viasat Inc. will post -0.39 earnings per share 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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