Alaska Permanent Fund Corp Acquires New Holdings in Viasat, Inc. (NASDAQ:VSAT)

Alaska Permanent Fund Corp acquired a new stake in shares of Viasat, Inc. (NASDAQ:VSAT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,416 shares of the communications equipment provider’s stock, valued at approximately $478,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Viasat by 40.3% during the third quarter. Vanguard Group Inc. now owns 11,897,337 shares of the communications equipment provider’s stock valued at $219,625,000 after purchasing an additional 3,417,316 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Viasat by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 802,096 shares of the communications equipment provider’s stock valued at $14,807,000 after buying an additional 50,252 shares during the last quarter. Invesco Ltd. increased its holdings in Viasat by 68.0% during the third quarter. Invesco Ltd. now owns 1,133,429 shares of the communications equipment provider’s stock valued at $20,923,000 after buying an additional 458,959 shares during the last quarter. Caxton Associates LP purchased a new stake in Viasat during the third quarter valued at approximately $518,000. Finally, CI Investments Inc. purchased a new stake in Viasat during the third quarter valued at approximately $120,000. Institutional investors own 86.05% of the company’s stock.

Analyst Upgrades and Downgrades

VSAT has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Viasat in a report on Monday, June 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Viasat from $23.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. reduced their target price on shares of Viasat from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Finally, Barclays reduced their price objective on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.17.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $13.43 on Friday. The firm has a fifty day moving average price of $16.04 and a 200-day moving average price of $19.63. Viasat, Inc. has a 1 year low of $12.89 and a 1 year high of $44.32. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.68 and a quick ratio of 2.44.

Viasat (NASDAQ:VSAT) last posted its earnings results on Tuesday, May 21st. The communications equipment provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.12). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Viasat had a negative net margin of 24.95% and a negative return on equity of 19.76%. Analysts anticipate that Viasat, Inc. will post -1.46 earnings per share for the current year.

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.