Viasat, Inc. (NASDAQ:VSAT - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $8.02, but opened at $7.82. Viasat shares last traded at $7.63, with a volume of 442,762 shares trading hands.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on VSAT shares. Barclays cut their price objective on 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 reduced their price objective on Viasat from $28.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Finally, 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. 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.com, Viasat has a consensus rating of "Hold" and a consensus target price of $18.33.
Read Our Latest Analysis on Viasat
Viasat Trading Up 5.0 %
The company has a market capitalization of $1.14 billion, a PE ratio of -2.85 and a beta of 1.34. The company has a fifty day simple moving average of $8.82 and a 200-day simple moving average of $12.51. 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 announced its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted ($6.16) EPS. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts predict that Viasat, Inc. will post -2.64 EPS for the current year.
Insider Transactions at Viasat
In related news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was 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 directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.20% of the company's stock.
Institutional Trading of Viasat
Hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI purchased a new stake in shares of Viasat in the 3rd quarter valued at approximately $27,000. Quest Partners LLC purchased a new position in shares of Viasat during the second quarter worth $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Viasat in the third quarter valued at $28,000. KBC Group NV raised its holdings in shares of Viasat by 63.7% in 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 during the period. Finally, GAMMA Investing LLC lifted its stake in Viasat by 176.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider's stock worth $33,000 after acquiring an additional 1,772 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
About Viasat
(
Get Free Report)
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.
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