ViaSat, Inc. (VSAT) Stake Boosted by Fmr LLC
Fmr LLC boosted its position in ViaSat, Inc. (NASDAQ:VSAT) by 50.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,081 shares of the communications equipment provider’s stock after buying an additional 3,030 shares during the period. Fmr LLC’s holdings in ViaSat were worth $580,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Neuburgh Advisers LLC raised its position in shares of ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 272 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ViaSat during the first quarter worth $105,000. Glen Harbor Capital Management LLC raised its position in shares of ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 374 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new position in shares of ViaSat during the first quarter worth $163,000. Finally, Elkfork Partners LLC raised its position in shares of ViaSat by 20.5% in the first quarter. Elkfork Partners LLC now owns 2,800 shares of the communications equipment provider’s stock worth $179,000 after buying an additional 476 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.
Shares of ViaSat, Inc. (NASDAQ:VSAT) opened at 66.61 on Tuesday. The stock has a market cap of $3.84 billion, a P/E ratio of 148.02 and a beta of 0.68. ViaSat, Inc. has a 1-year low of $61.85 and a 1-year high of $82.19. The company’s 50-day moving average is $66.08 and its 200-day moving average is $65.64.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. ViaSat had a net margin of 1.52% and a return on equity of 2.07%. The company had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $400.90 million. During the same quarter in the previous year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts expect that ViaSat, Inc. will post $0.34 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $89.00 target price on shares of ViaSat in a research report on Sunday, June 4th. Cowen and Company upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Wunderlich upgraded shares of ViaSat from a “sell” rating to a “hold” rating and set a $58.00 target price for the company in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. Finally, BidaskClub lowered shares of ViaSat from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $76.45.
In other ViaSat news, Director Jeffrey M. Nash sold 5,000 shares of ViaSat stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $71.76, for a total transaction of $358,800.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $358,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total transaction of $45,346.00. Following the sale, the director now directly owns 8,700 shares in the company, valued at approximately $563,586. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,400 shares of company stock worth $1,771,886. 7.70% of the stock is currently owned by corporate insiders.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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