Algert Global LLC Makes New Investment in Viasat Inc. $VSAT

Key Points

• Algert Global LLC acquired a new stake in Viasat Inc. during the first quarter, purchasing 34,940 shares valued at approximately $364,000.
• Viasat reported earnings of $0.17 per share for the quarter, exceeding analysts' expectations of ($0.15) and showing an increase in revenue of 4.0% year-over-year.
• Wall Street analysts have varied outlooks on Viasat, with target prices ranging from $10.00 to $56.00, indicating a mix of buy and hold ratings across several firms.

Algert Global LLC bought a new position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,940 shares of the communications equipment provider's stock, valued at approximately $364,000.

Several other institutional investors and hedge funds have also bought and sold shares of VSAT. PNC Financial Services Group Inc. raised its holdings in Viasat by 233.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after acquiring an additional 2,224 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Viasat during the first quarter worth approximately $63,000. US Bancorp DE increased its position in Viasat by 46.4% during the first quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after buying an additional 2,019 shares during the last quarter. Wexford Capital LP acquired a new position in Viasat during the fourth quarter worth approximately $93,000. Finally, Teza Capital Management LLC acquired a new position in Viasat during the fourth quarter worth approximately $100,000. Institutional investors own 86.05% of the company's stock.

Viasat Price Performance

NASDAQ:VSAT traded down $0.18 during trading hours on Friday, reaching $32.35. 1,972,521 shares of the company were exchanged, compared to its average volume of 3,649,591. The company has a market capitalization of $4.34 billion, a P/E ratio of -7.01 and a beta of 1.20. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $33.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87. The business has a 50 day moving average of $19.57 and a 200 day moving average of $13.06.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Viasat Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

VSAT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. Needham & Company LLC boosted their price target on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. William Blair reissued an "outperform" rating on shares of Viasat in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.13.

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.