Viasat (NASDAQ:VSAT) Reaches New 12-Month High – Here’s What Happened
by Michael Walen · The Markets DailyViasat Inc. (NASDAQ:VSAT – Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $53.98 and last traded at $53.69, with a volume of 3353679 shares. The stock had previously closed at $45.23.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on VSAT. Needham & Company LLC increased their price target on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. William Blair restated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Morgan Stanley set a $51.00 target price on Viasat in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and boosted their price target for the company from $36.00 to $48.00 in a report on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Viasat has a consensus rating of “Moderate Buy” and an average price target of $47.71.
Read Our Latest Report on VSAT
Viasat Price Performance
The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. The stock has a market capitalization of $7.29 billion, a P/E ratio of -20.73 and a beta of 1.45. The company’s 50-day moving average price is $46.43 and its 200 day moving average price is $39.51.
Insider Buying and Selling
In other news, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the sale, the senior vice president directly owned 38,108 shares in the company, valued at $1,792,600.32. The trade was a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Craig Andrew Miller sold 5,260 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,881 shares of company stock valued at $5,973,317 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Hedge Funds Weigh In On Viasat
Large investors have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in shares of Viasat in the third quarter valued at about $25,000. Salomon & Ludwin LLC purchased a new position in Viasat in the 3rd quarter valued at about $28,000. Hantz Financial Services Inc. boosted its holdings in 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 during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Viasat during the 4th quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Viasat during the 4th quarter worth approximately $38,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Viasat Company Profile
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.