Viasat, Inc. (NASDAQ:VSAT - Get Free Report)'s share price was down 9.1% during trading on Monday . The company traded as low as $7.83 and last traded at $8.09. Approximately 1,955,065 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 2,654,213 shares. The stock had previously closed at $8.90.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on VSAT. Morgan Stanley lowered their target price on Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Monday, March 24th. StockNews.com raised shares of Viasat from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 price target on shares of Viasat in a research report on Monday, February 10th. Finally, William Blair reissued a "market perform" rating on shares of Viasat in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $14.57.
Read Our Latest Stock Analysis on Viasat
Viasat Stock Up 1.5 %
The stock has a fifty day moving average of $9.48 and a 200 day moving average of $9.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60. The firm has a market capitalization of $1.08 billion, a P/E ratio of -2.49 and a beta of 1.06.
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%. On average, research analysts anticipate that Viasat, Inc. will post -0.54 EPS for the current fiscal year.
Insider Transactions at Viasat
In related news, insider Cpp Investment Board Private H sold 3,750,000 shares of Viasat stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $9.00, for a total value of $33,750,000.00. Following the completion of the transaction, the insider now directly owns 4,795,334 shares in the company, valued at approximately $43,158,006. The trade was a 43.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Viasat
Several hedge funds have recently bought and sold shares of VSAT. AlphaQuest LLC grew its position in Viasat by 39.0% during the fourth quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider's stock worth $38,000 after buying an additional 1,255 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Viasat by 75.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 1,267 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Viasat by 2.6% in the third quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider's stock worth $760,000 after purchasing an additional 1,584 shares during the last quarter. MetLife Investment Management LLC raised its stake in Viasat by 2.9% in the fourth quarter. MetLife Investment Management LLC now owns 72,132 shares of the communications equipment provider's stock valued at $614,000 after purchasing an additional 2,050 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Viasat during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 86.05% of the company's stock.
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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