Hsbc Holdings PLC Has $227,000 Holdings in Viasat Inc. $VSAT

Key Points

• Hsbc Holdings PLC has significantly reduced its stake in Viasat Inc. by 64.2%, dropping to a position worth $227,000 after selling 39,475 shares in the first quarter.
• Multiple institutional investors have recently made substantial changes to their stakes in Viasat, with 86.05% of the stock now owned by institutional investors and hedge funds.
• Analysts have issued mixed ratings for Viasat, with current targets ranging from $10.00 to $56.00, and a consensus rating categorized as "Hold" with an average target price of $21.13.

Hsbc Holdings PLC lessened its stake in Viasat Inc. (NASDAQ:VSAT - Free Report) by 64.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,019 shares of the communications equipment provider's stock after selling 39,475 shares during the quarter. Hsbc Holdings PLC's holdings in Viasat were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Viasat by 6.3% in the first quarter. Vanguard Group Inc. now owns 14,646,644 shares of the communications equipment provider's stock valued at $152,618,000 after purchasing an additional 872,784 shares in the last quarter. Neuberger Berman Group LLC grew its position in Viasat by 2.9% in the first quarter. Neuberger Berman Group LLC now owns 5,190,232 shares of the communications equipment provider's stock valued at $53,913,000 after acquiring an additional 145,868 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Viasat by 26.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,384,942 shares of the communications equipment provider's stock valued at $24,851,000 after acquiring an additional 497,405 shares during the last quarter. Nuveen LLC bought a new position in Viasat in the first quarter valued at about $20,593,000. Finally, Bank of America Corp DE grew its position in Viasat by 149.6% in the fourth quarter. Bank of America Corp DE now owns 1,365,194 shares of the communications equipment provider's stock valued at $11,618,000 after acquiring an additional 818,301 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company's stock.

Viasat Trading Up 9.5%

Shares of NASDAQ:VSAT traded up $2.77 during midday trading on Thursday, hitting $31.91. 4,949,367 shares of the stock were exchanged, compared to its average volume of 3,888,243. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of -6.91 and a beta of 1.27. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11. The business's 50-day moving average price is $22.85 and its 200 day moving average price is $14.54. Viasat Inc. has a 12 month low of $6.69 and a 12 month high of $33.85.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.13 billion. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Analysts predict that Viasat Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Needham & Company LLC lifted their target price on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. B. Riley decreased their target price on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. William Blair reiterated an "outperform" rating on shares of Viasat in a research report on Wednesday, August 27th. JPMorgan Chase & Co. lifted their target price on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.