Viasat (NASDAQ:VSAT) Stock Price Down 3.9% – Here’s What Happened

Viasat, Inc. (NASDAQ:VSAT) shares dropped 3.9% during mid-day trading on Friday . The stock traded as low as $11.11 and last traded at $11.11. Approximately 1,071,761 shares were traded during trading, a decline of 38% from the average daily volume of 1,729,765 shares. The stock had previously closed at $11.56.

Analyst Ratings Changes

VSAT has been the topic of several research reports. JPMorgan Chase & Co. lowered 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 research note on Tuesday, September 17th. Needham & Company LLC lowered their price target on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America lowered their price target on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.83.

Viasat Stock Down 4.2 %

The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -1.32 and a beta of 1.34. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The firm has a fifty day moving average price of $14.37 and a 200 day moving average price of $15.56.

Viasat (NASDAQ:VSAT) last announced its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. Viasat’s revenue was up 41.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.83) EPS. Sell-side analysts anticipate that Viasat, Inc. will post -1.43 EPS for the current fiscal year.

Insider Transactions at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the transaction, the insider now owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Inspire Investing LLC lifted its holdings in Viasat by 22.1% during the 3rd quarter. Inspire Investing LLC now owns 34,182 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 6,189 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Viasat by 176.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 1,772 shares in the last quarter. Pacific Wealth Management acquired a new position in shares of Viasat in the 3rd quarter valued at $134,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viasat in the 2nd quarter worth $61,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Viasat by 63.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.