Viasat, Inc. (NASDAQ:VSAT) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Viasat, Inc. (NASDAQ:VSAT) by 35.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,711 shares of the communications equipment provider’s stock after buying an additional 7,477 shares during the quarter. Van ECK Associates Corp’s holdings in Viasat were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VSAT. Quest Partners LLC acquired a new stake in shares of Viasat during the second quarter worth $29,000. GAMMA Investing LLC lifted its stake in Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after buying an additional 1,772 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viasat during the second quarter valued at about $61,000. Headlands Technologies LLC purchased a new position in shares of Viasat in the first quarter worth approximately $86,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Viasat in the second quarter worth approximately $67,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on VSAT. Needham & Company LLC decreased their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Bank of America reduced their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.83.

Viasat Stock Down 6.6 %

Shares of VSAT stock opened at $8.41 on Wednesday. Viasat, Inc. has a twelve month low of $8.16 and a twelve month high of $29.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.78 and a current ratio of 1.44. The stock’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $14.75. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.70 and a beta of 1.37.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned ($6.16) earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. As a group, research analysts predict that Viasat, Inc. will post -1.46 EPS for the current year.

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.