Viasat (NASDAQ:VSAT – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.
Several other research firms have also recently weighed in on VSAT. Oppenheimer started coverage on shares of Viasat in a report on Monday. They issued an “outperform” rating and a $140.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Needham & Company LLC boosted their price objective on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. B. Riley Financial increased their target price on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Raymond James Financial set a $74.00 price target on Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.11.
Read Our Latest Stock Report on VSAT
Viasat Trading Down 7.6%
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 (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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm posted ($0.02) earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Viasat will post -0.39 EPS for the current year.
Insiders Place Their Bets
In other Viasat news, Director John P. Stenbit sold 653 shares of Viasat stock in a transaction 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 directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. The trade was a 2.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark D. Dankberg sold 400,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,082,196 shares in the company, valued at $70,083,012.96. This trade represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 438,275 shares of company stock valued at $28,608,719 in the last quarter. Company insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of VSAT. Jefferies Financial Group Inc. acquired a new stake in shares of Viasat in the 4th quarter valued at approximately $830,000. Brightline Capital Management LLC increased its holdings in Viasat by 1.8% during the third quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock worth $59,655,000 after buying an additional 36,000 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Viasat during the third quarter worth $7,325,000. Legacy Capital Group California Inc. bought a new stake in Viasat during the third quarter worth $1,241,000. Finally, SG Americas Securities LLC raised its position in Viasat by 797.5% during the fourth quarter. SG Americas Securities LLC now owns 117,019 shares of the communications equipment provider’s stock worth $4,032,000 after acquiring an additional 103,981 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
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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