Baupost Group LLC MA Has $145.94 Million Stake in Viasat, Inc. (NASDAQ:VSAT)

Baupost Group LLC MA cut its holdings in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,222,590 shares of the communications equipment provider's stock after selling 1,536,774 shares during the quarter. Viasat comprises about 4.2% of Baupost Group LLC MA's investment portfolio, making the stock its 9th biggest holding. Baupost Group LLC MA owned 9.52% of Viasat worth $145,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in shares of Viasat by 2.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider's stock valued at $760,000 after purchasing an additional 1,584 shares during the period. Algert Global LLC boosted its holdings in shares of Viasat by 361.3% in the third quarter. Algert Global LLC now owns 77,880 shares of the communications equipment provider's stock worth $930,000 after buying an additional 60,998 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Viasat by 8.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,523,465 shares of the communications equipment provider's stock worth $18,190,000 after buying an additional 115,909 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of Viasat in the third quarter worth approximately $710,000. Finally, Intech Investment Management LLC purchased a new stake in Viasat in the 3rd quarter worth about $322,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VSAT has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut shares of Viasat from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. StockNews.com lowered shares of Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 31st. Bank of America decreased their price target on shares of Viasat from $31.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Barclays reduced their target price on shares of Viasat from $24.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC decreased their price objective on Viasat from $28.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.33.

Viasat Trading Up 10.5 %

NASDAQ VSAT traded up $0.91 during trading hours on Wednesday, hitting $9.60. The company's stock had a trading volume of 3,652,790 shares, compared to its average volume of 1,910,484. The stock has a fifty day moving average of $10.34 and a 200 day moving average of $14.12. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. Viasat, Inc. has a twelve month low of $6.69 and a twelve month high of $29.11. The firm has a market capitalization of $1.23 billion, a P/E ratio of -3.08 and a beta of 1.37.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business's quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($6.16) EPS. Equities research analysts forecast that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

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 entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.