Fox Run Management L.L.C. Acquires New Position in Viasat Inc. $VSAT

Key Points

• Fox Run Management L.L.C. has invested approximately $265,000 in Viasat Inc., acquiring 25,469 shares during the first quarter.
• Analysts are optimistic about Viasat's performance, with several firms raising their price targets, including Needham & Company increasing it from $16.00 to $25.00.
• Despite recent challenges, Viasat reported a positive EPS of $0.17, surpassing analyst expectations and reflecting a 4.0% revenue increase year-over-year.

Fox Run Management L.L.C. acquired a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,469 shares of the communications equipment provider's stock, valued at approximately $265,000.

A number of other large investors have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after buying an additional 2,224 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Viasat by 850.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock worth $34,000 after purchasing an additional 3,546 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Viasat during the 1st quarter worth $63,000. US Bancorp DE grew its holdings 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 acquiring an additional 2,019 shares during the period. Finally, Wexford Capital LP bought a new position in Viasat during the fourth quarter worth $93,000. 86.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on VSAT. JPMorgan Chase & Co. lifted their price target on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Needham & Company LLC boosted their price objective on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. B. Riley lowered their target price on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Viasat in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.13.

Viasat Price Performance

Viasat stock traded up $1.32 during midday trading on Friday, reaching $27.93. 4,936,328 shares of the stock were exchanged, compared to its average volume of 4,596,949. The company's fifty day moving average is $18.14 and its 200-day moving average is $12.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11. Viasat Inc. has a 52 week low of $6.69 and a 52 week high of $28.59. The firm has a market cap of $3.75 billion, a PE ratio of -6.05 and a beta of 1.20.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.32. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.37%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Viasat Inc. will post -0.54 EPS for the current year.

Viasat Company Profile

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.