ViaSat Inc. (VSAT) Shares Gap Up to $71.02
ViaSat Inc. (NASDAQ:VSAT) gapped up before the market opened on Friday . The stock had previously closed at $70.68, but opened at $71.02. ViaSat shares last traded at $73.56, with a volume of 112,846 shares.
Several equities research analysts recently issued reports on VSAT shares. B. Riley reaffirmed a “buy” rating and set a $89.00 price target on shares of ViaSat in a research note on Monday, May 23rd. Drexel Hamilton lowered shares of ViaSat from a “hold” rating to a “sell” rating and set a $61.00 price objective for the company. in a report on Monday, May 23rd. They noted that the move was a valuation call. Wunderlich reissued a “sell” rating and set a $50.00 price objective (up from $48.00) on shares of ViaSat in a report on Monday, May 23rd. Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a report on Saturday, May 28th. Finally, TheStreet lowered shares of ViaSat from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. ViaSat presently has an average rating of “Hold” and a consensus price target of $70.00.
The stock has a market cap of $3.60 billion and a price-to-earnings ratio of 167.36. The firm has a 50-day moving average of $70.82 and a 200-day moving average of $69.35.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Tuesday, May 24th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The firm had revenue of $372 million for the quarter, compared to analyst estimates of $370.17 million. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, analysts predict that ViaSat Inc. will post $1.16 EPS for the current year.
In other ViaSat news, Director John P. Stenbit sold 700 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $76.73, for a total transaction of $53,711.00. Following the sale, the director now owns 7,100 shares of the company’s stock, valued at approximately $544,783. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Keven K. Lippert sold 8,750 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $73.81, for a total transaction of $645,837.50. Following the sale, the vice president now directly owns 8,750 shares in the company, valued at approximately $645,837.50. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of ViaSat by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 79,115 shares of the company’s stock worth $4,827,000 after buying an additional 1,200 shares in the last quarter. Swiss National Bank raised its stake in shares of ViaSat by 3.7% in the fourth quarter. Swiss National Bank now owns 60,124 shares of the company’s stock worth $3,668,000 after buying an additional 2,124 shares in the last quarter. Sei Investments Co. bought a new stake in shares of ViaSat during the fourth quarter worth approximately $11,232,000. First Trust Advisors LP bought a new stake in shares of ViaSat during the fourth quarter worth approximately $1,658,000. Finally, Rhumbline Advisers raised its stake in shares of ViaSat by 7.7% in the fourth quarter. Rhumbline Advisers now owns 56,673 shares of the company’s stock worth $3,458,000 after buying an additional 4,035 shares in the last quarter.
ViaSat, Inc is a technology company engaged in broadband technologies and services, including satellite and wireless networking applications and secure networking systems, products and services. The Company conducts its business through three segments: satellite services, commercial networks and government systems.
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