Viasat (NASDAQ:VSAT) Stock Price Down 7.7% - Time to Sell?

Viasat, Inc. (NASDAQ:VSAT - Get Free Report) was down 7.7% on Monday . The company traded as low as $8.11 and last traded at $8.17. Approximately 643,589 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,019,662 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Viasat from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Barclays reduced their price target on shares of Viasat from $24.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 20th. Bank of America dropped their price objective on shares of Viasat from $31.00 to $19.00 and set a "buy" rating for the company in a report on Friday, September 20th. Finally, Needham & Company LLC reduced their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.33.

Viasat Price Performance

The stock's 50 day moving average is $8.89 and its two-hundred day moving average is $12.57. The stock has a market capitalization of $1.03 billion, a PE ratio of -2.57 and a beta of 1.34. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted ($6.16) earnings per share. As a group, sell-side analysts forecast that Viasat, Inc. will post -2.38 earnings per share 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 stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the transaction, the executive vice president now directly owns 350,351 shares in the company, valued at $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN boosted its stake in Viasat by 28.1% in the third 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 in the last quarter. Millennium Management LLC lifted its holdings in shares of Viasat by 1,145.1% in the 2nd 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 lifted its holdings in shares of Viasat by 6.6% in the 3rd quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider's stock valued at $53,083,000 after purchasing an additional 276,376 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Viasat by 63.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider's stock valued at $8,181,000 after purchasing an additional 250,389 shares during the period. Finally, PDT Partners LLC purchased a new position in Viasat during the 3rd quarter worth approximately $1,980,000. Institutional investors and hedge funds own 86.05% of the company's stock.

About Viasat

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.