Algert Global LLC Acquires 60,998 Shares of Viasat, Inc. (NASDAQ:VSAT)

Algert Global LLC raised its position in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 361.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,880 shares of the communications equipment provider's stock after buying an additional 60,998 shares during the period. Algert Global LLC owned 0.06% of Viasat worth $930,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its holdings in Viasat by 23.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,622 shares of the communications equipment provider's stock valued at $1,277,000 after buying an additional 13,304 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Viasat by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 60,183 shares of the communications equipment provider's stock valued at $1,089,000 after buying an additional 3,712 shares during the period. SG Americas Securities LLC acquired a new position in Viasat in the second quarter valued at approximately $293,000. Nisa Investment Advisors LLC acquired a new position in Viasat in the second quarter valued at approximately $67,000. Finally, Louisiana State Employees Retirement System lifted its holdings in Viasat by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider's stock valued at $480,000 after buying an additional 600 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Viasat Stock Performance

Shares of VSAT traded down $0.27 during midday trading on Friday, reaching $9.33. The stock had a trading volume of 1,762,766 shares, compared to its average volume of 3,725,106. The firm has a 50 day simple moving average of $10.15 and a 200-day simple moving average of $14.00. The firm has a market cap of $1.20 billion, a PE ratio of -2.99 and a beta of 1.37. Viasat, Inc. has a one year low of $6.69 and a one year high of $29.11. 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 (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.53). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned ($6.16) earnings per share. Viasat's revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viasat, Inc. will post -2.38 EPS for the current 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.