Bayforest Capital Ltd Acquires Shares of 36,248 Viasat Inc. (NASDAQ:VSAT)

Key Points

• Bayforest Capital Ltd has acquired a new stake in Viasat Inc. by purchasing 36,248 shares valued at approximately $378,000 during the first quarter.
• Institutional ownership of Viasat is significant, with 86.05% of its stock held by institutional investors, highlighting investor interest in the company.
• Equity analysts have mixed views on Viasat, with recent price targets ranging from $14.00 to $56.00, and a consensus rating of "Hold" reflecting cautious optimism.

Bayforest Capital Ltd bought a new position in Viasat Inc. (NASDAQ:VSAT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,248 shares of the communications equipment provider's stock, valued at approximately $378,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Viasat by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 13,773,860 shares of the communications equipment provider's stock valued at $117,216,000 after purchasing an additional 194,006 shares during the last quarter. Neuberger Berman Group LLC grew its position in Viasat by 16.1% in the 4th quarter. Neuberger Berman Group LLC now owns 5,044,364 shares of the communications equipment provider's stock valued at $42,912,000 after acquiring an additional 700,533 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Viasat by 46.8% in the fourth quarter. Invesco Ltd. now owns 2,093,740 shares of the communications equipment provider's stock worth $17,818,000 after purchasing an additional 667,564 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Viasat by 149.6% in the fourth quarter. Bank of America Corp DE now owns 1,365,194 shares of the communications equipment provider's stock worth $11,618,000 after purchasing an additional 818,301 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Viasat by 26.4% in the fourth quarter. American Century Companies Inc. now owns 1,229,116 shares of the communications equipment provider's stock worth $10,460,000 after purchasing an additional 256,389 shares during the last quarter. 86.05% of the stock is owned by institutional investors.

Viasat Stock Up 4.4%

NASDAQ VSAT traded up $0.89 during trading on Tuesday, hitting $21.17. The company's stock had a trading volume of 4,490,732 shares, compared to its average volume of 3,475,695. The business's 50 day simple moving average is $13.54 and its 200-day simple moving average is $10.94. The company has a market cap of $2.84 billion, a PE ratio of -4.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.72 and a quick ratio of 1.55. Viasat Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $26.70.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VSAT shares. B. Riley dropped their target price on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Viasat from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. William Blair raised Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday. Finally, Needham & Company LLC dropped their target price on Viasat from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Viasat has an average rating of "Moderate Buy" and an average target price of $19.00.

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.