Aristeia Capital L.L.C. Purchases New Shares in Viasat, Inc. (NASDAQ:VSAT)

Aristeia Capital L.L.C. bought a new stake in Viasat, Inc. (NASDAQ:VSAT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 122,273 shares of the communications equipment provider's stock, valued at approximately $1,041,000. Aristeia Capital L.L.C. owned approximately 0.10% of Viasat as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Neuberger Berman Group LLC lifted its holdings in Viasat by 16.1% during the 4th quarter. Neuberger Berman Group LLC now owns 5,044,364 shares of the communications equipment provider's stock worth $42,912,000 after buying an additional 700,533 shares during the last quarter. Invesco Ltd. lifted its stake in Viasat by 46.8% during the fourth quarter. Invesco Ltd. now owns 2,093,740 shares of the communications equipment provider's stock worth $17,818,000 after purchasing an additional 667,564 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Viasat by 150.2% in the fourth quarter. JPMorgan Chase & Co. now owns 706,792 shares of the communications equipment provider's stock worth $6,015,000 after purchasing an additional 424,317 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Viasat by 23.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,887,537 shares of the communications equipment provider's stock valued at $16,063,000 after purchasing an additional 364,072 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Viasat by 2,709.0% during the fourth quarter. Jump Financial LLC now owns 373,620 shares of the communications equipment provider's stock worth $3,180,000 after purchasing an additional 360,319 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cpp Investment Board Private H sold 3,750,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the completion of the sale, the insider now directly owns 4,795,334 shares in the company, valued at approximately $43,158,006. This trade represents a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

VSAT has been the topic of a number of recent research reports. William Blair reissued a "market perform" rating on shares of Viasat in a report on Tuesday, April 15th. Cantor Fitzgerald assumed coverage on Viasat in a research note on Friday, January 24th. They set a "neutral" rating and a $12.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Viasat from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Monday, March 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Viasat in a report on Monday, February 10th. Finally, Morgan Stanley decreased their target price on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $14.57.

Viasat Price Performance

VSAT stock traded down $0.18 during trading on Monday, hitting $9.20. The company had a trading volume of 1,860,065 shares, compared to its average volume of 2,748,701. The business has a 50 day moving average of $9.29 and a 200 day moving average of $9.29. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.74 and a beta of 1.01. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35. Viasat, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $26.70.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. As a group, research analysts predict that Viasat, Inc. will post -0.54 earnings per share 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.