Bank of America Corp DE Invests $127.28 Million in Viasat Inc. $VSAT

Bank of America Corp DE purchased a new stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,417,245 shares of the communications equipment provider's stock, valued at approximately $127,283,000. Bank of America Corp DE owned about 1.03% of Viasat at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Magnolia Capital Advisors LLC acquired a new position in Viasat in the 2nd quarter valued at about $234,000. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Viasat during the 2nd quarter worth approximately $448,000. Odyssean LLC acquired a new stake in shares of Viasat during the 2nd quarter worth approximately $1,266,000. Man Group plc purchased a new stake in shares of Viasat during the 2nd quarter valued at approximately $12,909,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Viasat during the 2nd quarter valued at approximately $4,729,000. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

NASDAQ:VSAT opened at $73.02 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The stock has a market capitalization of $10.06 billion, a P/E ratio of -304.25 and a beta of 1.70. The company has a 50 day moving average price of $74.88 and a 200 day moving average price of $66.93. Viasat Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $93.03.

Insider Transactions at Viasat

In other Viasat news, Director John P. Stenbit sold 705 shares of Viasat stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $47,058.75. Following the completion of the transaction, the director directly owned 545 shares of the company's stock, valued at $36,378.75. The trade was a 56.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard A. Baldridge sold 223,542 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 244,291 shares of company stock worth $19,526,868. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VSAT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. B. Riley Financial lifted their target price on Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. Finally, Zacks Research raised Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Viasat presently has an average rating of "Moderate Buy" and an average price target of $90.67.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.

Viasat's offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.

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