Pacer Advisors Inc. lifted its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 11.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,183 shares of the communications equipment provider’s stock after buying an additional 759 shares during the period. Pacer Advisors Inc.’s holdings in ViaSat were worth $476,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Neuburgh Advisers LLC increased its stake in ViaSat by 20.5% in the 1st quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 272 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ViaSat during the 1st quarter valued at $105,000. Glen Harbor Capital Management LLC grew its holdings in ViaSat by 20.5% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 374 shares during the last quarter. Elkfork Partners LLC grew its holdings in ViaSat by 20.5% during the 1st quarter. Elkfork Partners LLC now owns 2,800 shares of the communications equipment provider’s stock valued at $179,000 after buying an additional 476 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in ViaSat during the 1st quarter valued at $206,000. 99.42% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Mark D. Dankberg sold 28,500 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $60.12, for a total transaction of $1,713,420.00. Following the completion of the transaction, the chief executive officer now owns 28,500 shares in the company, valued at $1,713,420. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin J. Harkenrider sold 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the transaction, the insider now owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,350 shares of company stock worth $7,423,509. Corporate insiders own 7.70% of the company’s stock.
VSAT has been the topic of several analyst reports. Zacks Investment Research cut ViaSat from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Royal Bank Of Canada set a $50.00 target price on ViaSat and gave the company a “sell” rating in a report on Saturday, May 27th. B. Riley reissued a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a research report on Tuesday, May 30th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $74.00 price objective on shares of ViaSat in a research report on Wednesday, May 31st. Finally, Wunderlich raised ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a research report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $74.82.
Shares of ViaSat, Inc. (NASDAQ VSAT) traded down 0.68% during trading on Friday, hitting $62.37. The stock had a trading volume of 251,154 shares. The stock’s 50-day moving average price is $62.04 and its 200 day moving average price is $64.59. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 270.00 and a beta of 0.69. ViaSat, Inc. has a one year low of $57.75 and a one year high of $82.19.
ViaSat (NASDAQ:VSAT) last issued its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $384.29 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that ViaSat, Inc. will post $0.05 EPS for the current year.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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