Viasat (NASDAQ:VSAT) Stock Price Down 5.7%

Viasat, Inc. (NASDAQ:VSAT) shares were down 5.7% on Monday . The company traded as low as $16.11 and last traded at $16.11. Approximately 630,304 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 1,608,310 shares. The stock had previously closed at $17.08.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Viasat in a research note on Monday, June 17th. JPMorgan Chase & Co. reduced their price target on Viasat from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Barclays lowered their price objective on Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Morgan Stanley cut their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Finally, Bank of America upped their price target on shares of Viasat from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Viasat has an average rating of “Hold” and a consensus price target of $25.17.

Viasat Price Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 2.78. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.69 and a beta of 1.35. The business’s fifty day simple moving average is $17.10 and its 200 day simple moving average is $16.68.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.16. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm posted ($0.83) earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. On average, research analysts forecast that Viasat, Inc. will post -1.34 EPS for the current year.

Insider Activity

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Viasat

Several large investors have recently made changes to their positions in VSAT. Vanguard Group Inc. increased its stake in shares of Viasat by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock worth $340,549,000 after purchasing an additional 286,872 shares during the last quarter. Edgestream Partners L.P. raised its stake in shares of Viasat by 1,752.3% in the first quarter. Edgestream Partners L.P. now owns 159,355 shares of the communications equipment provider’s stock valued at $2,883,000 after buying an additional 150,752 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Viasat by 11.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,145 shares of the communications equipment provider’s stock valued at $328,000 after buying an additional 1,833 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Viasat by 12.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,886 shares of the communications equipment provider’s stock worth $812,000 after acquiring an additional 4,897 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Viasat by 23.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,622 shares of the communications equipment provider’s stock worth $1,277,000 after acquiring an additional 13,304 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.