Everett Harris & Co. CA Makes New Investment in Viasat, Inc. (NASDAQ:VSAT)

Everett Harris & Co. CA acquired a new stake in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 130,507 shares of the communications equipment provider's stock, valued at approximately $1,111,000. Everett Harris & Co. CA owned approximately 0.10% of Viasat as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. grew its stake in Viasat by 30.0% in the second quarter. Sei Investments Co. now owns 19,270 shares of the communications equipment provider's stock valued at $245,000 after purchasing an additional 4,446 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Viasat by 30.5% during the 2nd quarter. AQR Capital Management LLC now owns 236,694 shares of the communications equipment provider's stock valued at $2,959,000 after purchasing an additional 55,377 shares in the last quarter. Millennium Management LLC raised its holdings in Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider's stock worth $10,369,000 after purchasing an additional 750,904 shares during the period. The Manufacturers Life Insurance Company grew its stake in Viasat by 259.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 62,072 shares of the communications equipment provider's stock valued at $788,000 after acquiring an additional 44,782 shares during the period. Finally, Algert Global LLC acquired a new stake in Viasat during the 2nd quarter worth $214,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Price Performance

NASDAQ:VSAT traded up $0.01 during trading hours on Wednesday, hitting $9.25. The company's stock had a trading volume of 1,171,421 shares, compared to its average volume of 4,122,823. The company has a market capitalization of $1.19 billion, a PE ratio of -2.98 and a beta of 1.35. Viasat, Inc. has a 52-week low of $6.69 and a 52-week high of $26.70. The business's 50-day moving average is $9.30 and its two-hundred day moving average is $12.02. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results 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). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the firm earned ($6.16) EPS. Viasat's revenue was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Viasat, Inc. will post -2.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the sale, the executive vice president now owns 350,351 shares of the company's stock, valued at approximately $3,226,732.71. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VSAT. Morgan Stanley decreased their price target on Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Barclays decreased their price objective on shares of Viasat from $24.00 to $9.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Viasat in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald initiated coverage on Viasat in a report on Friday, January 24th. They issued a "neutral" rating and a $12.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Viasat presently has a consensus rating of "Hold" and a consensus price target of $15.43.

Viasat 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.