Viasat (NASDAQ:VSAT) Trading Up 4.8% – Time to Buy?
by Mitch Edgeman · The Markets DailyViasat Inc. (NASDAQ:VSAT – Get Free Report) rose 4.8% on Thursday . The company traded as high as $75.25 and last traded at $75.8160. Approximately 189,006 shares traded hands during trading, a decline of 91% from the average daily volume of 2,065,405 shares. The stock had previously closed at $72.36.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on VSAT. New Street Research assumed coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target for the company. Morgan Stanley set a $95.00 target price on Viasat in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, B. Riley Financial boosted their price target on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.
Check Out Our Latest Stock Report on VSAT
Viasat Stock Up 2.7%
The stock has a market cap of $10.24 billion, a price-to-earnings ratio of -309.23 and a beta of 1.70. The firm’s fifty day moving average price is $75.60 and its two-hundred day moving average price is $65.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.
Insider Buying and Selling at Viasat
In other news, Director Richard A. Baldridge sold 223,542 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theresa Wise sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total value of $211,725.00. Following the transaction, the director directly owned 11,000 shares in the company, valued at $931,590. The trade was a 18.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 244,291 shares of company stock worth $19,526,868 in the last quarter. Company insiders own 1.40% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in VSAT. BlackRock Inc. bought a new position in shares of Viasat in the second quarter valued at approximately $1,863,374,000. California State Teachers Retirement System lifted its stake in Viasat by 8,886.4% during the 2nd quarter. California State Teachers Retirement System now owns 12,015,500 shares of the communications equipment provider’s stock valued at $1,079,112,000 after acquiring an additional 11,881,792 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock worth $85,338,000 after acquiring an additional 796,349 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Viasat by 18.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after acquiring an additional 738,656 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Viasat by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock valued at $115,266,000 after purchasing an additional 273,369 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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