Viasat, Inc. (NASDAQ:VSAT – Get Rating) fell 5.8% on Monday after Barclays lowered their price target on the stock from $47.50 to $41.00. The company traded as low as $33.04 and last traded at $33.36. 4,182 shares were traded during mid-day trading, a decline of 99% from the average session volume of 456,655 shares. The stock had previously closed at $35.43.
A number of other research firms have also recently issued reports on VSAT. Morgan Stanley upped their price target on shares of Viasat from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 8th. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. Finally, Raymond James lowered shares of Viasat from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Viasat currently has an average rating of “Hold” and an average price target of $53.80.
Institutional Trading of Viasat
Several hedge funds have recently modified their holdings of VSAT. Vanguard Group Inc. increased its holdings in shares of Viasat by 6.8% during the third quarter. Vanguard Group Inc. now owns 7,111,765 shares of the communications equipment provider’s stock worth $214,989,000 after buying an additional 452,198 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Viasat by 27.9% during the third quarter. Neuberger Berman Group LLC now owns 1,352,708 shares of the communications equipment provider’s stock valued at $40,941,000 after purchasing an additional 295,238 shares during the last quarter. Cove Street Capital LLC grew its stake in shares of Viasat by 42.6% during the third quarter. Cove Street Capital LLC now owns 970,468 shares of the communications equipment provider’s stock valued at $29,337,000 after purchasing an additional 289,733 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Viasat during the third quarter valued at approximately $8,079,000. Finally, Dimensional Fund Advisors LP boosted its stake in Viasat by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,937,208 shares of the communications equipment provider’s stock valued at $94,537,000 after acquiring an additional 257,085 shares during the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.
Viasat Trading Down 6.2 %
The stock has a market capitalization of $2.51 billion, a P/E ratio of -25.13 and a beta of 1.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.43 and a quick ratio of 1.12. The business’s 50 day simple moving average is $36.06 and its 200-day simple moving average is $34.92.
Viasat (NASDAQ:VSAT – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The communications equipment provider reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($1.19). Viasat had a negative net margin of 3.81% and a negative return on equity of 4.87%. The business had revenue of $656.68 million during the quarter, compared to the consensus estimate of $757.08 million. As a group, analysts forecast that Viasat, Inc. will post -1.69 EPS for the current year.
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; community internet 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.