Charles Schwab Investment Management Inc. Acquires 497,405 Shares of Viasat Inc. $VSAT

Key Points

• Charles Schwab Investment Management Inc. increased its shareholding in Viasat Inc. by 26.4%, owning approximately 1.85% of the company, valued at $24.85 million.
• Several large investors, including Wells Fargo and Sterling Capital Management, have also adjusted their positions in Viasat, indicating increasing institutional interest in the stock.
• Viasat reported a quarterly earnings surprise, posting $0.17 earnings per share, exceeding analysts' expectations by $0.32, along with a revenue of $1.17 billion.

Charles Schwab Investment Management Inc. lifted its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384,942 shares of the communications equipment provider's stock after purchasing an additional 497,405 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.85% of Viasat worth $24,851,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after acquiring an additional 2,224 shares in the last quarter. Sterling Capital Management LLC lifted its position in Viasat by 850.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock valued at $34,000 after acquiring an additional 3,546 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Viasat in the 1st quarter valued at about $63,000. US Bancorp DE lifted its position in Viasat by 46.4% in the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock valued at $66,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Wexford Capital LP bought a new position in Viasat in the 4th quarter valued at about $93,000. Institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

Shares of NASDAQ:VSAT traded up $2.59 during mid-day trading on Tuesday, reaching $30.80. The company had a trading volume of 5,647,315 shares, compared to its average volume of 4,849,524. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -6.67 and a beta of 1.20. The company's 50-day moving average price is $18.80 and its 200-day moving average price is $12.77. Viasat Inc. has a one year low of $6.69 and a one year high of $30.92.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.37%. Viasat's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that Viasat Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VSAT has been the topic of several recent research reports. B. Riley dropped their price target on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price target on shares of Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC lifted their target price on shares of Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, William Blair raised shares of Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday, August 4th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $21.13.

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.