Corton Capital Inc. lifted its position in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 83.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 63,382 shares of the communications equipment provider's stock after purchasing an additional 28,870 shares during the period. Viasat comprises approximately 0.3% of Corton Capital Inc.'s portfolio, making the stock its 9th biggest holding. Corton Capital Inc.'s holdings in Viasat were worth $539,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bridgeway Capital Management LLC purchased a new stake in Viasat in the fourth quarter worth $3,901,000. Brevan Howard Capital Management LP purchased a new stake in shares of Viasat in the 4th quarter worth about $424,000. Captrust Financial Advisors boosted its stake in shares of Viasat by 72.6% during the 4th quarter. Captrust Financial Advisors now owns 39,799 shares of the communications equipment provider's stock valued at $339,000 after purchasing an additional 16,735 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Viasat during the fourth quarter valued at about $1,942,000. Finally, Bank of America Corp DE raised its stake in Viasat by 149.6% in the fourth quarter. Bank of America Corp DE now owns 1,365,194 shares of the communications equipment provider's stock worth $11,618,000 after buying an additional 818,301 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on VSAT. Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of Viasat in a research note on Monday, February 10th. Cantor Fitzgerald assumed coverage on Viasat in a research report on Friday, January 24th. They set a "neutral" rating and a $12.00 price objective for the company. StockNews.com raised shares of Viasat from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. William Blair reissued a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. Finally, Morgan Stanley cut their price objective on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Viasat currently has an average rating of "Hold" and an average target price of $14.57.
Check Out Our Latest Research Report on VSAT
Viasat Stock Performance
Shares of NASDAQ VSAT traded up $0.55 during midday trading on Friday, hitting $9.69. 2,458,811 shares of the stock traded hands, compared to its average volume of 2,768,663. The firm has a market capitalization of $1.25 billion, a P/E ratio of -2.88 and a beta of 1.01. Viasat, Inc. has a one year low of $6.69 and a one year high of $26.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. The firm has a 50-day moving average of $9.35 and a two-hundred day moving average of $9.27.
Viasat (NASDAQ:VSAT - Get Free Report) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. On average, equities analysts forecast that Viasat, Inc. will post -0.54 EPS for the current fiscal year.
Insider Transactions at Viasat
In related news, insider Cpp Investment Board Private H sold 3,750,000 shares of Viasat stock in a transaction 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 transaction, the insider now owns 4,795,334 shares in the company, valued at approximately $43,158,006. The trade was a 43.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.20% of the company's stock.
About Viasat
(
Free Report)
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.
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