Ieq Capital LLC bought a new stake in Viasat Inc. (NASDAQ:VSAT – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,408 shares of the communications equipment provider’s stock, valued at approximately $2,641,000.
A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Viasat by 483.2% in the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after acquiring an additional 90,680 shares during the last quarter. AQR Capital Management LLC raised its stake in Viasat by 189.7% during the 1st quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after purchasing an additional 296,612 shares during the last quarter. Millennium Management LLC raised its stake in Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after purchasing an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Viasat by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after purchasing an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Viasat by 6.9% in the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock valued at $2,357,000 after purchasing an additional 14,575 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CEO Mark D. Dankberg sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the transaction, the chief executive officer owned 1,082,196 shares in the company, valued at $70,083,012.96. This trade represents a 26.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Baldridge sold 223,542 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $80.62, for a total value of $18,021,956.04. The SEC filing for this sale provides additional information. Insiders sold a total of 675,861 shares of company stock worth $47,705,388 in the last 90 days. 1.40% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Research Report on VSAT
Viasat Price Performance
NASDAQ:VSAT opened at $72.28 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The company has a 50-day moving average of $74.75 and a 200-day moving average of $63.57. Viasat Inc. has a 52 week low of $26.10 and a 52 week high of $93.03. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -301.17 and a beta of 1.72.
Viasat (NASDAQ:VSAT – Get Free Report) last posted its 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 0.64% and a positive return on equity of 1.44%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Viasat Inc. will post -0.36 earnings per share for the current fiscal year.
Viasat Company 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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