Man Group plc bought a new stake in Viasat Inc. (NASDAQ:VSAT – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 143,742 shares of the communications equipment provider’s stock, valued at approximately $12,909,000. Man Group plc owned about 0.10% of Viasat at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC purchased a new position in shares of Viasat during the first quarter worth about $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC lifted its holdings in shares of Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat in the 4th quarter valued at about $36,000. Finally, Los Angeles Capital Management LLC purchased a new position in Viasat during the 4th quarter worth approximately $38,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Viasat
In related news, Director John P. Stenbit sold 616 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $46,483.36. Following the completion of the transaction, the director directly owned 634 shares of the company’s stock, valued at $47,841.64. This trade represents a 49.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the transaction, the senior vice president directly owned 21,159 shares of the company’s stock, valued at approximately $1,596,658.14. This represents a 10.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 675,861 shares of company stock worth $47,705,388. 1.40% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Research Report on Viasat
Viasat Price Performance
Viasat stock opened at $72.73 on Friday. The company has a market cap of $10.02 billion, a P/E ratio of -303.04 and a beta of 1.72. Viasat Inc. has a one year low of $26.10 and a one year high of $93.03. The business has a fifty day moving average of $75.26 and a two-hundred day moving average of $64.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68.
Viasat (NASDAQ:VSAT – Get Free Report) last posted 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). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. As a group, analysts predict that Viasat Inc. will post -0.36 earnings per share for the current fiscal year.
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.
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