Viasat (NASDAQ:VSAT) Shares Gap Up to $12.79

Viasat, Inc. (NASDAQ:VSAT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.79, but opened at $13.18. Viasat shares last traded at $13.68, with a volume of 434,601 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America raised their price target on shares of Viasat from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $15.00 in a research note on Tuesday. Barclays cut their price objective on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 5th. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Viasat has a consensus rating of “Hold” and a consensus price target of $23.83.

Viasat Trading Down 3.9 %

The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $17.05 and a 200-day moving average price of $16.55.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.16. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned ($0.83) EPS. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. Equities research analysts predict that Viasat, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity at Viasat

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the transaction, the insider now owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Viasat

Several hedge funds have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC boosted its holdings in Viasat by 11,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 1,655 shares during the period. Quest Partners LLC acquired a new stake in Viasat during the second quarter worth $29,000. Tidemark LLC bought a new stake in Viasat in the 4th quarter valued at $72,000. PNC Financial Services Group Inc. raised its stake in shares of Viasat by 49.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 1,335 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viasat during the 2nd quarter worth about $61,000. Institutional investors 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.