State Street Corp Buys 276,376 Shares of Viasat, Inc. (NASDAQ:VSAT)

State Street Corp raised its position in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,445,811 shares of the communications equipment provider's stock after purchasing an additional 276,376 shares during the quarter. State Street Corp owned 3.46% of Viasat worth $53,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VSAT. Quest Partners LLC purchased a new position in Viasat during the second quarter valued at $29,000. Point72 Hong Kong Ltd bought a new position in shares of Viasat in the third quarter worth about $28,000. KBC Group NV lifted its position 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 valued at $31,000 after buying an additional 1,021 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Viasat by 176.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider's stock valued at $33,000 after buying an additional 1,772 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viasat during the 2nd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 86.05% of the company's stock.

Insider Activity at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the completion of the transaction, the executive vice president now owns 350,351 shares of the company's stock, valued at approximately $3,226,732.71. This trade represents a 1.01 % decrease in their position. The sale 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 insiders.

Viasat Price Performance

Shares of VSAT traded up $0.21 during midday trading on Friday, hitting $8.79. 4,860,089 shares of the company traded hands, compared to its average volume of 1,967,738. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -2.82 and a beta of 1.34. The firm has a 50 day moving average of $9.46 and a 200-day moving average of $13.24. 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, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11.

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 analysts' consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. Viasat's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted ($6.16) earnings per share. On average, analysts forecast that Viasat, Inc. will post -2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on VSAT. Needham & Company LLC lowered their price target on shares of Viasat from $28.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Bank of America lowered their target price 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. JPMorgan Chase & Co. lowered Viasat from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Barclays lowered their price objective on 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, StockNews.com downgraded Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.33.

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.