Quantbot Technologies LP Takes $1.07 Million Position in Viasat Inc. $VSAT

Quantbot Technologies LP purchased a new stake in Viasat Inc. (NASDAQ:VSAT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 11,898 shares of the communications equipment provider’s stock, valued at approximately $1,069,000.

Other large investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC purchased a new position in Viasat during the first quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its position in shares of Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 318 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Viasat in the fourth quarter valued at approximately $36,000. Los Angeles Capital Management LLC acquired a new position in shares of Viasat during the 4th quarter worth approximately $38,000. Finally, EFG International AG purchased a new position in shares of Viasat during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Stock Up 0.2%

Shares of VSAT opened at $72.46 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. Viasat Inc. has a one year low of $26.10 and a one year high of $93.03. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of -301.92 and a beta of 1.72. The stock has a 50 day moving average price of $74.95 and a 200 day moving average price of $63.80.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Viasat Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VSAT shares. B. Riley Financial lifted their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. New Street Research assumed coverage on shares of Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Barclays set a $49.00 target price on shares of Viasat in a research note on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Insiders Place Their Bets

In other news, Director Theresa Wise sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $84.69, for a total value of $211,725.00. Following the transaction, the director directly owned 11,000 shares of the company’s stock, valued at approximately $931,590. This trade represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John P. Stenbit sold 616 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $75.46, for a total transaction of $46,483.36. Following the completion of the transaction, the director directly owned 634 shares in the company, valued at approximately $47,841.64. This represents a 49.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 675,861 shares of company stock valued at $47,705,388. Corporate insiders own 1.40% of the company’s stock.

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.