Viasat (NASDAQ:VSAT) Trading Down 4.9% - Here's Why

Viasat, Inc. (NASDAQ:VSAT - Get Free Report) was down 4.9% on Tuesday . The company traded as low as $9.92 and last traded at $9.91. Approximately 585,875 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,614,341 shares. The stock had previously closed at $10.42.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VSAT shares. Cantor Fitzgerald started coverage on Viasat in a report on Friday, January 24th. They set a "neutral" rating and a $12.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $19.00 price objective on shares of Viasat in a research report on Monday, February 10th. StockNews.com upgraded Viasat from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley decreased their price target on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, William Blair reiterated a "market perform" rating on shares of Viasat in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.57.

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Viasat Stock Performance

The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. The stock has a market capitalization of $1.15 billion, a P/E ratio of -2.65 and a beta of 1.06. The business has a 50-day moving average price of $9.67 and a 200 day moving average price of $9.78.

Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. As a group, sell-side analysts forecast that Viasat, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 3,750,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the transaction, the insider now owns 4,795,334 shares in the company, valued at approximately $43,158,006. This represents a 43.88 % decrease in their position. 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 owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in Viasat by 7.0% in the 4th quarter. California State Teachers Retirement System now owns 86,102 shares of the communications equipment provider's stock worth $733,000 after purchasing an additional 5,660 shares during the period. Helium Advisors LLC bought a new position in Viasat in the fourth quarter valued at about $326,000. Continuum Advisory LLC lifted its holdings in Viasat by 25.0% in the fourth quarter. Continuum Advisory LLC now owns 19,715 shares of the communications equipment provider's stock valued at $168,000 after acquiring an additional 3,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Viasat by 43.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 149,070 shares of the communications equipment provider's stock worth $1,269,000 after purchasing an additional 44,804 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Viasat during the 4th quarter valued at about $93,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

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.