Financial Engines Advisors L.L.C. Sells 28,638 Shares of Viasat Inc. (NASDAQ:VSAT)

Key Points

• Financial Engines Advisors L.L.C. has reduced its stake in Viasat Inc. by 16.1%, holding 149,189 shares after selling 28,638 shares in the 1st quarter.
• Viasat reported a quarterly earnings per share (EPS) of $0.17, surpassing analysts' expectations, with revenues of $1.17 billion, reflecting a 4.0% year-over-year increase.
• Multiple hedge funds increased their holdings in Viasat, with Bank of America raising its stake by 149.6% in the previous quarter.

Financial Engines Advisors L.L.C. lessened its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,189 shares of the communications equipment provider's stock after selling 28,638 shares during the quarter. Financial Engines Advisors L.L.C. owned 0.12% of Viasat worth $1,555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SummerHaven Investment Management LLC lifted its position in Viasat by 2.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock worth $550,000 after buying an additional 1,494 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Viasat by 11.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock worth $174,000 after buying an additional 1,700 shares in the last quarter. US Bancorp DE lifted its position in Viasat by 46.4% during the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after buying an additional 2,019 shares in the last quarter. MetLife Investment Management LLC lifted its position in Viasat by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 72,132 shares of the communications equipment provider's stock worth $614,000 after buying an additional 2,050 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Viasat by 233.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after buying an additional 2,224 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

Viasat Trading Up 6.7%

Shares of VSAT stock traded up $1.72 on Wednesday, reaching $27.49. The company had a trading volume of 4,624,149 shares, compared to its average volume of 4,326,435. 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 stock has a market cap of $3.69 billion, a PE ratio of -5.95 and a beta of 1.20. The company has a 50-day moving average of $15.87 and a 200-day moving average of $11.65. Viasat Inc. has a 12 month low of $6.69 and a 12 month high of $28.59.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.32. The company 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%. Viasat's revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. On average, equities analysts forecast that Viasat Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC upped their price target 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. William Blair upgraded shares of Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday, August 4th. B. Riley cut their target price 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.13.

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.