Warburg Pincus LLC Decreases Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Warburg Pincus LLC lowered its stake in Viasat, Inc. (NASDAQ:VSAT) by 25.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,390,687 shares of the communications equipment provider’s stock after selling 2,811,443 shares during the period. Viasat makes up 5.1% of Warburg Pincus LLC’s holdings, making the stock its 5th biggest holding. Warburg Pincus LLC owned 6.54% of Viasat worth $100,185,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its position 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 during the last quarter. Centiva Capital LP bought a new position in Viasat in the third quarter valued at about $328,000. Paloma Partners Management Co bought a new position in Viasat in the third quarter valued at about $160,000. Point72 Hong Kong Ltd bought a new position in Viasat in the third quarter valued at about $28,000. Finally, PDT Partners LLC bought a new position in Viasat in the third quarter valued at about $1,980,000. Institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on VSAT shares. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Needham & Company LLC cut their price target on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Barclays cut their price target on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Finally, Bank of America cut 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. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.33.

Viasat Trading Down 5.3 %

NASDAQ VSAT opened at $8.74 on Friday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.80 and a beta of 1.34. Viasat, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11. The business has a 50 day moving average price of $9.91 and a 200-day moving average price of $13.75. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($6.16) EPS. As a group, equities analysts expect that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Viasat Company Profile

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.