Viasat (NASDAQ:VSAT) Shares Down 5.4% – Here’s Why

Shares of Viasat Inc. (NASDAQ:VSAT) traded down 5.4% during trading on Thursday . The company traded as low as $71.85 and last traded at $71.1920. 1,233,044 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,712,586 shares. The stock had previously closed at $75.27.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VSAT shares. New Street Research initiated coverage on Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Barclays raised Viasat from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $49.00 in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and raised their target price for the company from $36.00 to $48.00 in a research note on Friday, February 6th. B. Riley Financial upped their price target on shares of Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Viasat Trading Down 6.0%

The firm has a 50-day moving average of $57.74 and a 200 day moving average of $46.11. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of -27.32 and a beta of 1.66.

Insider Activity

In related news, SVP Craig Andrew Miller sold 5,260 shares of Viasat stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $50.00, for a total transaction of $263,000.00. Following the sale, the senior vice president directly owned 21,252 shares in the company, valued at $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the transaction, the senior vice president owned 38,108 shares of the company’s stock, valued at $1,792,600.32. This represents a 44.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 38,071 shares of company stock valued at $1,804,437. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC bought a new position in Viasat during the 1st quarter valued at $25,000. Hantz Financial Services Inc. raised its stake in shares of Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat in the fourth quarter valued at $36,000. Los Angeles Capital Management LLC bought a new position in Viasat during the fourth quarter valued at about $38,000. Finally, International Assets Investment Management LLC bought a new position in Viasat during the first quarter valued at about $51,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

About Viasat

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.