IFM Investors Pty Ltd bought a new position in shares of Viasat Inc. (NASDAQ:VSAT – Free Report) in the first quarter, HoldingsChannel.com reports. The firm bought 7,616 shares of the communications equipment provider’s stock, valued at approximately $349,000.
Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Viasat by 483.2% during the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock valued at $1,140,000 after purchasing an additional 90,680 shares during the period. AQR Capital Management LLC boosted its position in shares of Viasat by 189.7% in the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after acquiring an additional 296,612 shares during the period. 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 grew its position in Viasat by 6.9% in the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after purchasing an additional 14,575 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on VSAT shares. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday, May 29th. Zacks Research cut Viasat from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Oppenheimer assumed coverage on Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective for the company. New Street Research initiated coverage on Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.11.
Viasat Price Performance
NASDAQ VSAT opened at $83.06 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average is $70.08 and its two-hundred day moving average is $54.27. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of -286.41 and a beta of 1.70. Viasat Inc. has a 1-year low of $14.00 and a 1-year high of $93.03.
Viasat (NASDAQ:VSAT – Get Free Report) last issued 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). The company had revenue of $1.17 billion during 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities analysts forecast that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Richard A. Baldridge sold 27,122 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the completion of the sale, the director owned 213,355 shares in the company, valued at $15,306,087.70. This trade represents a 11.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John P. Stenbit sold 653 shares of Viasat stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $46,846.22. Following the transaction, the director directly owned 29,597 shares of the company’s stock, valued at $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 438,275 shares of company stock valued at $28,608,719. 2.20% of the stock is owned by company insiders.
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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