Viasat Inc. (NASDAQ:VSAT) is Corton Capital Inc.'s 5th Largest Position

Key Points

• Corton Capital Inc. reduced its stake in Viasat Inc. by 45.4%, selling 28,770 shares, and now holds 34,612 shares valued at approximately $361,000.
• Several institutional investors, such as Vanguard and Bank of America, have increased their positions in Viasat, indicating positive investor sentiment towards the company.
• Viasat shares currently have a consensus rating of "Hold" from analysts, with target prices ranging from $14.00 to $56.00, reflecting varied expectations for the company's future performance.

Corton Capital Inc. lessened its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 45.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,612 shares of the communications equipment provider's stock after selling 28,770 shares during the quarter. Viasat makes up about 1.2% of Corton Capital Inc.'s holdings, making the stock its 5th largest position. Corton Capital Inc.'s holdings in Viasat were worth $361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP grew its holdings in shares of Viasat by 538.7% during the 4th quarter. Two Sigma Investments LP now owns 1,136,675 shares of the communications equipment provider's stock worth $9,673,000 after purchasing an additional 958,706 shares during the period. Tenzing Global Management LLC purchased a new stake in shares of Viasat during the 4th quarter worth about $7,170,000. Bank of America Corp DE grew its holdings in shares of Viasat by 149.6% during the 4th 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 period. Neuberger Berman Group LLC grew its holdings in shares of Viasat by 16.1% during the 4th quarter. Neuberger Berman Group LLC now owns 5,044,364 shares of the communications equipment provider's stock worth $42,912,000 after purchasing an additional 700,533 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Viasat by 46.8% during the 4th 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 period. Institutional investors and hedge funds own 86.05% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on VSAT. B. Riley decreased their price target on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Needham & Company LLC decreased their price target on Viasat from $19.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. William Blair restated a "market perform" rating on shares of Viasat in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Viasat from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.00.

Viasat Price Performance

VSAT stock traded up $0.66 during trading hours on Thursday, hitting $16.18. 3,597,209 shares of the stock traded hands, compared to its average volume of 3,401,634. The stock has a 50-day simple moving average of $13.04 and a 200 day simple moving average of $10.70. Viasat Inc. has a one year low of $6.69 and a one year high of $26.70. The company has a market cap of $2.17 billion, a P/E ratio of -3.64 and a beta of 1.17. The company has a current ratio of 1.72, a quick ratio of 1.55 and a debt-to-equity ratio of 1.41.

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.