Ontario Teachers Pension Plan Board Sells 2,811,442 Shares of Viasat, Inc. (NASDAQ:VSAT)

Ontario Teachers Pension Plan Board reduced its position in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,545,334 shares of the communications equipment provider's stock after selling 2,811,442 shares during the quarter. Viasat makes up about 0.9% of Ontario Teachers Pension Plan Board's investment portfolio, making the stock its 18th largest holding. Ontario Teachers Pension Plan Board owned approximately 6.69% of Viasat worth $102,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its holdings in Viasat by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider's stock valued at $480,000 after acquiring an additional 600 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Viasat by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider's stock valued at $209,000 after purchasing an additional 667 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Viasat by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider's stock valued at $166,000 after purchasing an additional 997 shares during the period. KBC Group NV grew its stake in shares of Viasat by 63.7% during the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider's stock worth $31,000 after purchasing an additional 1,021 shares during the period. Finally, IMA Advisory Services Inc. lifted its position in shares of Viasat by 3.1% during the 2nd quarter. IMA Advisory Services Inc. now owns 40,775 shares of the communications equipment provider's stock valued at $518,000 after buying an additional 1,223 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

Analyst Ratings Changes

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

Viasat Trading Up 1.5 %

Shares of VSAT stock traded up $0.10 during trading hours on Wednesday, hitting $6.93. The company had a trading volume of 2,363,785 shares, compared to its average volume of 1,819,380. The firm's fifty day moving average is $10.87 and its 200 day moving average is $14.43. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. Viasat, Inc. has a 12 month low of $6.69 and a 12 month high of $29.11.

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). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted ($6.16) EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Viasat, Inc. will post -2.38 EPS for the current year.

About Viasat

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.