Aristeia Capital L.L.C. Has $311,000 Holdings in Viasat Inc. $VSAT

Key Points

• Aristeia Capital L.L.C. sold 92,386 shares of Viasat Inc., reducing its holdings by 75.6% and leaving it with 29,887 shares valued at $311,000.
• Several hedge funds increased their stakes in Viasat during the fourth quarter, with Bank of America Corp DE notably boosting its holdings by 149.6%.
• Viasat recently reported better-than-expected quarterly earnings, with an EPS of $0.17, surpassing analysts' expectations of ($0.15) and showing a 4% year-over-year revenue increase.

Aristeia Capital L.L.C. lessened its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 75.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,887 shares of the communications equipment provider's stock after selling 92,386 shares during the period. Aristeia Capital L.L.C.'s holdings in Viasat were worth $311,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Viasat by 233.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after buying an additional 2,224 shares during the last quarter. MAI Capital Management lifted its holdings in Viasat by 74.7% during the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after buying an additional 1,640 shares during the last quarter. Quarry LP lifted its holdings in Viasat by 2,412.3% during the 1st quarter. Quarry LP now owns 5,728 shares of the communications equipment provider's stock worth $60,000 after buying an additional 5,500 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Viasat during the 1st quarter worth approximately $63,000. Finally, US Bancorp DE boosted its holdings in shares of Viasat by 46.4% in the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock valued at $66,000 after buying an additional 2,019 shares during the period. Institutional investors own 86.05% of the company's stock.

Viasat Price Performance

Shares of NASDAQ VSAT traded down $1.36 during mid-day trading on Friday, reaching $30.55. The company had a trading volume of 2,872,756 shares, compared to its average volume of 3,673,793. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42. The stock has a market cap of $4.10 billion, a PE ratio of -6.61 and a beta of 1.27. The company has a 50-day moving average price of $22.85 and a two-hundred day moving average price of $14.54. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $33.85.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its 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. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VSAT has been the subject of several research reports. Needham & Company LLC lifted their price target on shares of Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. B. Riley cut their price target on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. William Blair reissued an "outperform" rating on shares of Viasat in a report on Wednesday, August 27th. Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. raised their price target on Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.13.

Viasat Company 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.