Financial Engines Advisors L.L.C. decreased its stake in ViaSat, Inc. (NASDAQ:VSAT) by 18.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,596 shares of the communications equipment provider’s stock after selling 5,608 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in ViaSat were worth $1,984,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Securian Asset Management Inc raised its position in shares of ViaSat by 1.7% during the first quarter. Securian Asset Management Inc now owns 6,926 shares of the communications equipment provider’s stock worth $537,000 after acquiring an additional 117 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of ViaSat by 1.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,016 shares of the communications equipment provider’s stock worth $776,000 after buying an additional 177 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in shares of ViaSat by 3.8% in the 4th quarter. Neuburgh Advisers LLC now owns 5,216 shares of the communications equipment provider’s stock worth $308,000 after buying an additional 192 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ViaSat by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the communications equipment provider’s stock worth $1,178,000 after buying an additional 300 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its stake in shares of ViaSat by 1.5% in the 1st quarter. State Treasurer State of Michigan now owns 20,300 shares of the communications equipment provider’s stock worth $1,573,000 after buying an additional 300 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Toro Melinda Michele Del sold 6,250 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.14, for a total transaction of $563,375.00. Following the completion of the sale, the insider now directly owns 9,306 shares in the company, valued at $838,842.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director B Allen Lay sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $78.04, for a total transaction of $78,040.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,897 shares of company stock valued at $41,206,968. Company insiders own 8.10% of the company’s stock.
A number of brokerages have recently weighed in on VSAT. B. Riley boosted their target price on ViaSat from $89.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James cut shares of ViaSat from an “outperform” rating to a “market perform” rating and set a $90.92 price target on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. BidaskClub raised shares of ViaSat from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 10th. Bank of America reissued a “buy” rating and set a $105.00 target price (up previously from $74.00) on shares of ViaSat in a report on Monday, June 3rd. Finally, Zacks Investment Research raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. ViaSat currently has an average rating of “Buy” and a consensus target price of $96.99.
NASDAQ:VSAT traded down $0.05 during midday trading on Friday, hitting $87.73. The company had a trading volume of 511,376 shares, compared to its average volume of 487,879. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.34 and a current ratio of 1.83. ViaSat, Inc. has a 52-week low of $55.93 and a 52-week high of $97.31. The firm has a market capitalization of $5.32 billion, a PE ratio of -77.64 and a beta of 0.98.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.29. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The business had revenue of $557.20 million during the quarter, compared to analyst estimates of $538.73 million. During the same period in the prior year, the business posted ($0.34) earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts forecast that ViaSat, Inc. will post -0.1 EPS for the current fiscal year.
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ViaSat Company Profile
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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