Shares of Viasat Inc. (NASDAQ:VSAT – Get Free Report) were down 6.5% during trading on Monday . The company traded as low as $66.17 and last traded at $65.5990. Approximately 795,951 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,924,936 shares. The stock had previously closed at $70.17.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on VSAT shares. B. Riley Financial boosted their price objective on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Barclays set a $49.00 price objective on Viasat in a research report on Friday, May 29th. New Street Research began coverage on shares of Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.
Read Our Latest Stock Analysis on VSAT
Viasat Trading Up 3.4%
Viasat (NASDAQ:VSAT – Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). The firm 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 1.58% and a negative net margin of 0.73%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. Research analysts expect that Viasat Inc. will post -0.35 earnings per share for the current year.
Insider Activity at Viasat
In other 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 transaction of $46,846.22. Following the completion of the sale, the director owned 29,597 shares of the company’s stock, valued at approximately $2,123,288.78. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total transaction of $290,000.00. Following the sale, the chief financial officer directly owned 38,239 shares of the company’s stock, valued at approximately $2,772,327.50. The trade was a 9.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 434,275 shares of company stock valued at $28,359,079. Insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in Viasat in the 1st quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the 4th quarter valued at $36,000. Los Angeles Capital Management LLC bought a new position in Viasat in the 4th quarter valued at $38,000. EFG International AG bought a new position in Viasat in the 4th quarter valued at $41,000. Finally, Danske Bank A S bought a new position in Viasat in the 4th quarter valued at $47,000. 86.05% of the stock is currently owned by institutional investors.
About Viasat
Viasat, Inc (NASDAQ: VSAT) provides highâcapacity 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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