Key Points
- Viasat SVP Craig Miller sold 11,893 shares for approximately $851,658, reducing his ownership by 22.25% to 41,570 shares.
- Viasat reported quarterly EPS of $0.17, beating estimates of $0.10, but revenue of $1.16 billion missed expectations and declined 1.2% year over year; analysts expect a full-year loss.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $90.67, while institutional investors own 86.05% of the stock.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Craig Miller sold 11,893 shares of the business's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $71.61, for a total value of $851,657.73. Following the transaction, the senior vice president owned 41,570 shares of the company's stock, valued at $2,976,827.70. The trade was a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Viasat Stock Performance
Shares of VSAT stock opened at $66.90 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The stock has a market cap of $9.22 billion, a PE ratio of -278.75 and a beta of 1.76. The stock has a 50-day moving average of $74.13 and a 200-day moving average of $70.01. Viasat Inc. has a one year low of $29.13 and a one year high of $93.03.
Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.07. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company posted $0.17 EPS. Viasat's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Viasat Inc. will post -0.38 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Morgan Stanley set a $95.00 price target on shares of Viasat in a report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a report on Friday, July 17th. Needham & Company LLC upped their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Oppenheimer started coverage on Viasat in a research note on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.67.
Check Out Our Latest Report on VSAT
Hedge Funds Weigh In On Viasat
Several institutional investors and hedge funds have recently modified their holdings of the business. NorthCrest Asset Manangement LLC bought a new stake in Viasat during the 3rd quarter worth approximately $237,000. GAMMA Investing LLC raised its holdings in Viasat by 31.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,976 shares of the communications equipment provider's stock worth $350,000 after buying an additional 1,178 shares during the period. Farther Finance Advisors LLC lifted its stake in Viasat by 133.8% in the third quarter. Farther Finance Advisors LLC now owns 2,747 shares of the communications equipment provider's stock valued at $193,000 after buying an additional 1,572 shares in the last quarter. MRA Advisory Group lifted its stake in Viasat by 163.4% in the third quarter. MRA Advisory Group now owns 16,052 shares of the communications equipment provider's stock valued at $1,130,000 after buying an additional 9,959 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Viasat by 4.0% in the third quarter. Versant Capital Management Inc now owns 5,140 shares of the communications equipment provider's stock valued at $362,000 after buying an additional 200 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.
About Viasat
(
Get Free Report)
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.
Further Reading
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