Hsbc Holdings PLC Has $569,000 Stake in Viasat Inc. $VSAT

Key Points

• Hsbc Holdings PLC cut its Viasat stake by 94.8% in the second quarter, selling 116,405 shares and retaining 6,346 shares worth approximately $569,000.
• Institutional ownership remains high at 86.05%, with BlackRock, Bank of America, Tema ETFs and Bank of New York Mellon among investors establishing or expanding positions.
• Analyst sentiment is mixed but leans positive: Viasat has a “Moderate Buy” consensus rating and an average price target of $90.67, while recent insider sales totaled roughly $19.5 million.

Hsbc Holdings PLC reduced its stake in Viasat Inc. (NASDAQ:VSAT - Free Report) by 94.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,346 shares of the communications equipment provider's stock after selling 116,405 shares during the period. Hsbc Holdings PLC's holdings in Viasat were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSAT. BlackRock Inc. bought a new position in shares of Viasat in the 2nd quarter valued at $1,863,374,000. Bank of America Corp DE bought a new stake in shares of Viasat during the 2nd quarter worth $127,283,000. Tema ETFs LLC lifted its position in shares of Viasat by 229,857.1% during the 2nd quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider's stock worth $86,740,000 after buying an additional 965,400 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Viasat in the second quarter valued at about $80,124,000. Finally, Dimensional Fund Advisors LP grew its position in Viasat by 18.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider's stock valued at $219,346,000 after acquiring an additional 738,656 shares during the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VSAT has been the subject of several research analyst reports. Wall Street Zen downgraded Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. Oppenheimer initiated coverage on shares of Viasat in a report on Monday, June 29th. They set an "outperform" rating and a $140.00 price target on the stock. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday, May 29th. Finally, Zacks Research raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $90.67.

Viasat Stock Performance

Viasat stock opened at $71.64 on Tuesday. The business has a 50 day moving average of $75.01 and a 200-day moving average of $66.40. Viasat Inc. has a 1 year low of $26.10 and a 1 year high of $93.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The company has a market capitalization of $9.87 billion, a P/E ratio of -298.50 and a beta of 1.70.

Insider Activity

In other Viasat news, SVP Benjamin Palmer sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $66.75, for a total value of $133,500.00. Following the completion of the transaction, the senior vice president directly owned 30,087 shares in the company, valued at approximately $2,008,307.25. This represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Baldridge sold 223,542 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $80.62, for a total transaction of $18,021,956.04. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 244,291 shares of company stock worth $19,526,868. Company insiders own 1.40% of the company's stock.

About Viasat

Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.

Viasat's offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.

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