First Trust Advisors LP Has $9.30 Million Position in Viasat Inc. $VSAT

Key Points

• First Trust Advisors increased its Viasat position by 37.7% in the first quarter, holding 203,053 shares worth approximately $9.3 million. Institutional investors collectively own 86.05% of Viasat.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $84.11; individual targets range as high as $140.
• Viasat’s latest quarter fell short of expectations, reporting a $0.02 loss per share versus the expected $0.32 profit and revenue of $1.17 billion versus the $1.20 billion estimate. Shares opened at $76.93, while insiders sold $28.9 million worth of stock over the past 90 days.

First Trust Advisors LP lifted its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 37.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 203,053 shares of the communications equipment provider's stock after purchasing an additional 55,581 shares during the quarter. First Trust Advisors LP owned about 0.15% of Viasat worth $9,300,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in Viasat in the first quarter valued at approximately $25,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Viasat in the fourth quarter valued at approximately $36,000. Los Angeles Capital Management LLC bought a new stake in shares of Viasat during the fourth quarter worth $38,000. EFG International AG acquired a new stake in shares of Viasat during the fourth quarter worth $41,000. Finally, Danske Bank A S bought a new stake in Viasat in the 4th quarter valued at $47,000. 86.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John P. Stenbit sold 528 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.79, for a total value of $46,881.12. Following the completion of the sale, the director directly owned 722 shares of the company's stock, valued at $64,106.38. This trade represents a 42.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard A. Baldridge sold 27,122 shares of Viasat stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $1,945,732.28. Following the transaction, the director owned 213,355 shares of the company's stock, valued at $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 442,803 shares of company stock worth $28,944,520 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer assumed coverage on Viasat in a report on Monday, June 29th. They set an "outperform" rating and a $140.00 target price for the company. Needham & Company LLC boosted their price target on Viasat from $58.00 to $90.00 and gave the company a "buy" rating in a report on Monday, June 1st. Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an "outperform" rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Finally, New Street Research assumed coverage on Viasat in a research note on Wednesday, May 13th. They issued a "buy" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.11.

Viasat Trading Down 0.9%

NASDAQ VSAT opened at $76.93 on Friday. The company has a market cap of $10.60 billion, a PE ratio of -265.28 and a beta of 1.70. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 12 month low of $15.27 and a 12 month high of $93.03. The stock has a 50 day moving average of $72.25 and a 200-day moving average of $59.34.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share 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 positive return on equity of 1.58% and a negative net margin of 0.73%.Viasat's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts anticipate that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Viasat Company 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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