Viasat Inc. $VSAT Position Raised by MRA Advisory Group

MRA Advisory Group grew its stake in Viasat Inc. (NASDAQ:VSAT) by 163.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,052 shares of the communications equipment provider’s stock after purchasing an additional 9,959 shares during the period. MRA Advisory Group’s holdings in Viasat were worth $1,130,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Valued Wealth Advisors LLC bought a new stake in Viasat in the first quarter worth $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Viasat in the second quarter valued at $30,000. Elevation Wealth Partners LLC raised its stake in shares of Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 318 shares during the period. Bullseye Investment Management LLC bought a new stake in shares of Viasat in the 2nd quarter worth about $37,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Viasat during the 2nd quarter worth about $43,000. Institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling at Viasat

In other news, Director John P. Stenbit sold 705 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total transaction of $47,058.75. Following the transaction, the director owned 545 shares in the company, valued at approximately $36,378.75. This trade represents a 56.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $76.91, for a total value of $307,640.00. Following the completion of the sale, the chief financial officer owned 51,534 shares of the company’s stock, valued at $3,963,479.94. The trade was a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 245,763 shares of company stock worth $19,677,727 over the last quarter. Insiders own 1.40% of the company’s stock.

Viasat Trading Down 5.8%

Shares of Viasat stock traded down $4.30 on Wednesday, hitting $70.08. 722,703 shares of the company traded hands, compared to its average volume of 2,034,124. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The company has a market cap of $9.65 billion, a PE ratio of -292.54 and a beta of 1.76. The stock’s 50 day moving average price is $75.08 and its 200-day moving average price is $69.31. Viasat Inc. has a 52 week low of $29.13 and a 52 week high of $93.03.

Wall Street Analyst Weigh In

VSAT has been the topic of a number of recent analyst reports. Oppenheimer started coverage on shares of Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective on the stock. Morgan Stanley set a $95.00 price target on Viasat in a report on Monday, August 10th. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Finally, Needham & Company LLC increased their target price on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

About Viasat

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.