Viasat, Inc. (NASDAQ:VSAT - Get Free Report) shares were up 7.9% during trading on Monday . The company traded as high as $9.90 and last traded at $9.80. 446,861 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,542,371 shares. The stock had previously closed at $9.08.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on VSAT shares. Bank of America reduced their price target on Viasat from $31.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Needham & Company LLC decreased their price target on shares of Viasat from $28.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Barclays lowered their price target 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. cut shares of Viasat from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.33.
Check Out Our Latest Stock Analysis on VSAT
Viasat Price Performance
The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The firm's fifty day moving average price is $9.06 and its 200 day moving average price is $12.75. The stock has a market cap of $1.27 billion, a PE ratio of -3.17 and a beta of 1.34.
Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company's revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($6.16) EPS. As a group, equities analysts expect that Viasat, Inc. will post -2.38 EPS for the current fiscal year.
Insider Buying and Selling at Viasat
In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Viasat
Several institutional investors have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN increased its holdings in shares of Viasat by 28.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider's stock valued at $52,766,000 after acquiring an additional 969,942 shares during the period. Millennium Management LLC grew its stake in Viasat by 1,145.1% in the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider's stock valued at $10,369,000 after purchasing an additional 750,904 shares during the last quarter. State Street Corp boosted its stake in Viasat by 6.6% in the third quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider's stock valued at $53,083,000 after acquiring an additional 276,376 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Viasat by 63.6% during the second quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider's stock worth $8,181,000 after purchasing an additional 250,389 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Viasat during the 3rd quarter valued at $1,980,000. 86.05% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Articles
Before you consider Viasat, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Viasat wasn't on the list.
While Viasat currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
