Bayforest Capital Ltd Purchases New Holdings in Viasat Inc. $VSAT

Key Points

• Bayforest Capital Ltd acquired a new stake in Viasat Inc. (NASDAQ:VSAT) by purchasing 36,248 shares valued at approximately $378,000 in the first quarter of the year.
• Viasat's stock decreased by 5.6% recently, with a market cap of $3.91 billion and earnings showing a positive surprise as the company reported an EPS of $0.17, exceeding analyst expectations.
• Institutional investors now own 86.05% of Viasat's stock, with several firms recently increasing their stakes, indicating heightened interest in the company.

Bayforest Capital Ltd purchased a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,248 shares of the communications equipment provider's stock, valued at approximately $378,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in Viasat by 2.9% in the first quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock valued at $550,000 after purchasing an additional 1,494 shares during the last quarter. MAI Capital Management boosted its holdings in Viasat by 74.7% in the first quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 1,640 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in Viasat by 11.4% during the first quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock valued at $174,000 after buying an additional 1,700 shares in the last quarter. US Bancorp DE raised its stake in Viasat by 46.4% during the first 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 in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $33,000 after buying an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Stock Down 5.6%

VSAT opened at $29.14 on Thursday. Viasat Inc. has a 12 month low of $6.69 and a 12 month 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 stock has a market cap of $3.91 billion, a P/E ratio of -6.31 and a beta of 1.27. The stock's 50 day moving average price is $22.53 and its 200 day moving average price is $14.38.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Viasat Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair restated an "outperform" rating on shares of Viasat in a research note on Wednesday, August 27th. Wall Street Zen upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC upped their price objective on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. Finally, B. Riley cut their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.13.

About Viasat

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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