Hsbc Holdings PLC Makes New $583,000 Investment in Viasat Inc. $VSAT

Key Points

• HSBC Holdings PLC disclosed a new stake in Viasat during the fourth quarter, buying 16,799 shares valued at about $583,000.
• Institutional ownership remains heavy, with hedge funds and asset managers holding 86.05% of Viasat’s stock. Several large investors, including Dimensional Fund Advisors and Price T Rowe Associates, also increased their positions.
• Viasat’s latest earnings were mixed: it reported -$0.02 EPS, missing estimates, while revenue of $1.17 billion came in slightly below expectations but rose 2.1% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $84.11.

Hsbc Holdings PLC purchased a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,799 shares of the communications equipment provider's stock, valued at approximately $583,000.

Several other institutional investors have also modified their holdings of the business. Disciplined Growth Investors Inc. MN raised its stake in shares of Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock valued at $85,338,000 after acquiring an additional 796,349 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Viasat by 22.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,050,883 shares of the communications equipment provider's stock worth $139,601,000 after purchasing an additional 743,696 shares during the period. Geode Capital Management LLC increased its holdings in Viasat by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider's stock worth $115,266,000 after purchasing an additional 273,369 shares during the period. Price T Rowe Associates Inc. MD raised its position in Viasat by 2,821.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider's stock valued at $111,065,000 after purchasing an additional 3,112,670 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in 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. Institutional investors and hedge funds own 86.05% of the company's stock.

Viasat Stock Performance

Shares of Viasat stock opened at $70.44 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 52 week low of $14.00 and a 52 week high of $93.03. The firm's 50 day moving average is $71.86 and its two-hundred day moving average is $56.47. The firm has a market capitalization of $9.62 billion, a P/E ratio of -242.90 and a beta of 1.70.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Research analysts forecast that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on VSAT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a research report on Monday, April 20th. New Street Research assumed coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a "buy" rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. Raymond James Financial set a $74.00 price target on shares of Viasat and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Needham & Company LLC increased their price objective on shares of Viasat from $58.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Viasat has an average rating of "Moderate Buy" and an average target price of $84.11.

Insider Transactions at Viasat

In other news, Director Richard A. Baldridge sold 27,122 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the sale, the director directly owned 213,355 shares of the company's stock, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Stenbit sold 528 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $88.79, for a total value of $46,881.12. Following the completion of the sale, the director directly owned 722 shares of the company's stock, valued at approximately $64,106.38. This trade represents a 42.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 438,803 shares of company stock valued at $28,655,600 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Viasat Company 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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