Bank of America Corp DE Grows Position in Viasat, Inc. (NASDAQ:VSAT)

Bank of America Corp DE boosted its stake in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 149.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,365,194 shares of the communications equipment provider's stock after purchasing an additional 818,301 shares during the period. Bank of America Corp DE owned about 1.06% of Viasat worth $11,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VSAT. Neuberger Berman Group LLC lifted its position in Viasat by 16.1% during the fourth quarter. Neuberger Berman Group LLC now owns 5,044,364 shares of the communications equipment provider's stock valued at $42,912,000 after purchasing an additional 700,533 shares during the period. Invesco Ltd. lifted its position in Viasat by 46.8% during the fourth quarter. Invesco Ltd. now owns 2,093,740 shares of the communications equipment provider's stock valued at $17,818,000 after purchasing an additional 667,564 shares during the period. JPMorgan Chase & Co. lifted its position in Viasat by 150.2% during the fourth quarter. JPMorgan Chase & Co. now owns 706,792 shares of the communications equipment provider's stock valued at $6,015,000 after purchasing an additional 424,317 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 364,072 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in Viasat by 2,709.0% during the fourth quarter. Jump Financial LLC now owns 373,620 shares of the communications equipment provider's stock valued at $3,180,000 after buying an additional 360,319 shares during the last quarter. Institutional investors own 86.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VSAT. Barclays upped their target price on shares of Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a report on Monday, March 24th. Needham & Company LLC reduced their target price on shares of Viasat from $19.00 to $16.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley reduced their target price on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Wall Street Zen raised shares of Viasat from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.14.

Viasat Price Performance

Shares of NASDAQ VSAT traded down $0.93 during midday trading on Friday, reaching $9.15. The stock had a trading volume of 4,066,576 shares, compared to its average volume of 2,797,933. The stock has a 50-day moving average of $9.49 and a 200-day moving average of $9.29. 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 company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -2.72 and a beta of 1.01. Viasat, Inc. has a 12-month low of $6.69 and a 12-month high of $26.70.

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.