Focus Partners Advisor Solutions LLC Invests $1.08 Million in Viasat Inc. $VSAT

Key Points

• Focus Partners Advisor Solutions initiated a $1.08 million position in Viasat during the second quarter by purchasing 12,077 shares. Institutional investors collectively own 86.05% of VSAT.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $90.67; targets range from $49 to $140.
• Viasat’s shares opened at $82.87, near the upper end of their 12-month range, despite the company missing quarterly earnings and revenue estimates. Insiders have sold 671,861 shares worth about $47.4 million over the past 90 days.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,077 shares of the communications equipment provider's stock, valued at approximately $1,085,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in VSAT. Price T Rowe Associates Inc. MD lifted its stake in Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider's stock worth $111,065,000 after acquiring an additional 3,112,670 shares during the period. Millennium Management LLC increased its position in Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock valued at $14,443,000 after purchasing an additional 1,206,935 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Viasat by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock valued at $29,866,000 after purchasing an additional 1,128,338 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Viasat by 43.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider's stock valued at $96,890,000 after purchasing an additional 1,002,737 shares in the last quarter. Finally, Tema ETFs LLC lifted its position in shares of Viasat by 229,857.1% in the 2nd quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider's stock worth $86,740,000 after purchasing an additional 965,400 shares during the period. 86.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on VSAT shares. Oppenheimer began coverage on shares of Viasat in a report on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective on the stock. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They set a "buy" rating and a $100.00 target price for the company. Wall Street Zen cut Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. Finally, Needham & Company LLC boosted their price target on Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $90.67.

Insider Buying and Selling

In other news, Director Theresa Wise sold 2,500 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $84.69, for a total transaction of $211,725.00. Following the transaction, the director owned 11,000 shares in the company, valued at $931,590. This represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John P. Stenbit sold 616 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $75.46, for a total transaction of $46,483.36. Following the completion of the transaction, the director directly owned 634 shares of the company's stock, valued at $47,841.64. The trade was a 49.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 671,861 shares of company stock valued at $47,405,788 in the last 90 days. 1.40% of the stock is owned by insiders.

Viasat Price Performance

NASDAQ VSAT opened at $82.87 on Monday. The firm's fifty day simple moving average is $73.64 and its two-hundred day simple moving average is $62.28. The firm has a market capitalization of $11.42 billion, a P/E ratio of -345.29 and a beta of 1.72. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 12-month low of $25.50 and a 12-month high of $93.03.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the company posted ($0.02) EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Viasat Inc. will post -0.36 EPS for the current fiscal year.

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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