Amalgamated Bank Has $304,000 Stock Position in Viasat, Inc. (NASDAQ:VSAT)

Amalgamated Bank cut its stake in Viasat, Inc. (NASDAQ:VSAT) by 37.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,954 shares of the communications equipment provider’s stock after selling 14,056 shares during the period. Amalgamated Bank’s holdings in Viasat were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after acquiring an additional 348,166 shares during the period. Bank of New York Mellon Corp boosted its position in Viasat by 25.7% in the second quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock valued at $10,114,000 after buying an additional 162,804 shares in the last quarter. Cove Street Capital LLC grew its stake in Viasat by 17.7% during the first quarter. Cove Street Capital LLC now owns 766,753 shares of the communications equipment provider’s stock worth $13,871,000 after buying an additional 115,224 shares during the last quarter. Norges Bank bought a new position in shares of Viasat in the fourth quarter valued at approximately $17,511,000. Finally, American Century Companies Inc. boosted its holdings in shares of Viasat by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 460,602 shares of the communications equipment provider’s stock worth $5,850,000 after acquiring an additional 31,991 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

VSAT has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Viasat in a report on Monday, June 17th. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. Morgan Stanley reduced their price target 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. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Finally, Bank of America reduced their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.33.

Viasat Trading Down 2.0 %

VSAT opened at $11.94 on Tuesday. Viasat, Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $29.11. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -1.36 and a beta of 1.35. 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 50 day simple moving average of $16.42 and a 200 day simple moving average of $16.11.

Viasat (NASDAQ:VSAT) last released 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted ($0.83) earnings per share. The firm’s revenue was up 41.1% on a year-over-year basis. On average, sell-side analysts anticipate that Viasat, Inc. will post -1.34 earnings per share for the current year.

Insider Buying and Selling

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the completion of the sale, the insider now owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Viasat Profile

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.