Caxton Associates LLP Takes $2.28 Million Position in Viasat Inc. $VSAT

Key Points

• Caxton Associates LLP has acquired a new stake in Viasat Inc., purchasing 218,612 shares valued at approximately $2.28 million, representing about 0.17% of the company's total shares.
• Following recent analyst ratings, Viasat's stock is currently rated as a "hold"** by several brokerages, with price targets ranging from $21.13 to $25.00.
• Viasat reported a quarterly earnings per share (EPS) of $0.17, surpassing expectations, with a revenue of $1.17 billion, up 4% year-over-year.

Caxton Associates LLP acquired a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 218,612 shares of the communications equipment provider's stock, valued at approximately $2,278,000. Caxton Associates LLP owned approximately 0.17% of Viasat at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VSAT. Raymond James Financial Inc. acquired a new position in Viasat during the 4th quarter worth $159,000. Northern Trust Corp grew its stake in Viasat by 6.1% during the 4th quarter. Northern Trust Corp now owns 1,110,945 shares of the communications equipment provider's stock worth $9,454,000 after purchasing an additional 64,361 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Viasat by 87.1% in the fourth quarter. BNP Paribas Financial Markets now owns 558,251 shares of the communications equipment provider's stock valued at $4,751,000 after acquiring an additional 259,849 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 valued at $11,618,000 after acquiring an additional 818,301 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Viasat by 72.6% in the fourth quarter. Captrust Financial Advisors now owns 39,799 shares of the communications equipment provider's stock valued at $339,000 after acquiring an additional 16,735 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VSAT. Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Viasat in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Viasat in a research report on Wednesday, August 27th. Finally, Needham & Company LLC upped their price objective on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.13.

Viasat Trading Up 1.5%

NASDAQ:VSAT opened at $30.10 on Tuesday. The stock has a 50-day simple moving average of $21.93 and a 200-day simple moving average of $14.17. The stock has a market cap of $4.04 billion, a P/E ratio of -6.52 and a beta of 1.26. Viasat Inc. has a 1 year low of $6.69 and a 1 year high of $33.85. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.32. The business had revenue of $1.17 billion during 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 business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

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.

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