Viasat Inc. (NASDAQ:VSAT) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC reduced its stake in Viasat Inc. (NASDAQ:VSAT) by 46.0%, now holding 39,714 shares valued at $414,000.
• Viasat reported earnings of $0.17 per share for the last quarter, exceeding expectations, while analysts predict a negative EPS of -0.54 for the current fiscal year.
• Institutional investors own 86.05% of Viasat's stock, with major changes in holdings from firms like Two Sigma Investments and Vanguard Group.

Headlands Technologies LLC lowered its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 46.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,714 shares of the communications equipment provider's stock after selling 33,794 shares during the period. Headlands Technologies LLC's holdings in Viasat were worth $414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VSAT. Deutsche Bank AG grew its position in Viasat by 91.8% during the 1st quarter. Deutsche Bank AG now owns 850,192 shares of the communications equipment provider's stock worth $8,859,000 after purchasing an additional 406,967 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Viasat by 26.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,384,942 shares of the communications equipment provider's stock worth $24,851,000 after purchasing an additional 497,405 shares during the last quarter. Vanguard Group Inc. grew its position in Viasat by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 14,646,644 shares of the communications equipment provider's stock worth $152,618,000 after purchasing an additional 872,784 shares during the last quarter. PNC Financial Services Group Inc. grew 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 purchasing an additional 2,224 shares during the last quarter. Finally, US Bancorp DE grew 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 purchasing an additional 2,019 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

NASDAQ VSAT traded down $0.07 on Monday, hitting $25.55. 2,091,436 shares of the company's stock traded hands, compared to its average volume of 4,263,572. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $28.59. The firm's 50-day moving average price is $15.16 and its two-hundred day moving average price is $11.44. The firm has a market capitalization of $3.43 billion, a PE ratio of -5.53 and a beta of 1.20.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the business posted $0.30 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Viasat Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday. B. Riley dropped 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. Needham & Company LLC boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Viasat in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $21.13.

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.