ViaSat Inc. (VSAT) Sees Unusually-High Trading Volume
ViaSat Inc. (NASDAQ:VSAT) shares saw unusually-strong trading volume on Friday . Approximately 466,292 shares changed hands during trading, an increase of 66% from the previous session’s volume of 281,594 shares.The stock last traded at $73.70 and had previously closed at $73.25.
A number of analysts recently commented on VSAT shares. TheStreet lowered ViaSat from a “buy” rating to a “hold” rating in a research note on Wednesday, June 1st. Zacks Investment Research lowered ViaSat from a “hold” rating to a “sell” rating in a research note on Saturday, May 28th. Wunderlich reissued a “sell” rating and issued a $50.00 price target (up from $48.00) on shares of ViaSat in a research note on Monday, May 23rd. Drexel Hamilton lowered ViaSat from a “hold” rating to a “sell” rating and set a $61.00 price target on the stock. in a research note on Monday, May 23rd. They noted that the move was a valuation call. Finally, B. Riley reissued a “buy” rating and issued a $89.00 price target on shares of ViaSat in a research note on Thursday, June 2nd. 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 company. The stock currently has an average rating of “Hold” and an average target price of $70.00.
The stock has a market cap of $3.61 billion and a P/E ratio of 167.50. The company has a 50-day moving average price of $71.79 and a 200-day moving average price of $70.16.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.08. The firm earned $372 million during the quarter, compared to the consensus estimate of $370.17 million. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. Analysts anticipate that ViaSat Inc. will post $1.16 earnings per share for the current year.
In other news, VP Keven K. Lippert sold 8,750 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $645,837.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard A. Baldridge sold 2,512 shares of the business’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $75.02, for a total value of $188,450.24. Following the sale, the chief operating officer now directly owns 2,512 shares in the company, valued at $188,450.24. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in VSAT. 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 during the period. First Trust Advisors LP bought a new stake in shares of ViaSat during the fourth quarter worth about $1,658,000. 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 during the period. Comerica Bank raised its stake in shares of ViaSat by 0.5% in the fourth quarter. Comerica Bank now owns 45,152 shares of the company’s stock worth $2,580,000 after buying an additional 240 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of ViaSat by 5.4% in the fourth quarter. New York State Common Retirement Fund now owns 41,100 shares of the company’s stock worth $2,508,000 after buying an additional 2,100 shares during the period.
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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