Empowered Funds LLC Invests $26.48 Million in Viasat Inc. $VSAT

Empowered Funds LLC acquired a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 294,815 shares of the communications equipment provider's stock, valued at approximately $26,477,000. Empowered Funds LLC owned 0.21% of Viasat as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Aberdeen Wealth Management LLC bought a new stake in Viasat in the second quarter worth about $30,000. Elevation Wealth Partners LLC boosted its position in shares of Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock valued at $32,000 after purchasing an additional 318 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Viasat in the 2nd quarter worth approximately $43,000. Trust Co. of Vermont acquired a new position in shares of Viasat in the 2nd quarter worth approximately $46,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Viasat in the 1st quarter worth approximately $25,000. Institutional investors own 86.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. Wall Street Zen downgraded Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. New Street Research began coverage on Viasat in a research note on Wednesday, May 13th. They set a "buy" rating and a $100.00 price objective for the company. Finally, Morgan Stanley set a $95.00 target price on Viasat in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Viasat currently has an average rating of "Moderate Buy" and an average target price of $90.67.

Viasat Stock Performance

Shares of VSAT opened at $72.73 on Friday. The company has a 50-day moving average of $75.26 and a two-hundred day moving average of $64.26. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -303.04 and a beta of 1.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. Viasat Inc. has a one year low of $26.10 and a one year high of $93.03.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.34). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, equities research analysts expect that Viasat Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Viasat

In other news, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $62.41, for a total value of $249,640.00. Following the completion of the sale, the chief financial officer owned 34,239 shares in the company, valued at $2,136,855.99. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the completion of the sale, the senior vice president directly owned 21,159 shares of the company's stock, valued at approximately $1,596,658.14. This trade represents a 10.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 675,861 shares of company stock worth $47,705,388. 1.40% of the stock is currently owned by insiders.

Viasat Profile

Viasat, Inc NASDAQ: VSAT provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat's product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.

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