Ieq Capital LLC Takes Position in Viasat Inc. $VSAT

Key Points

• Ieq Capital LLC has acquired a new position in Viasat Inc., purchasing 60,230 shares valued at approximately $628,000 in the first quarter.
• Viasat reported a quarterly EPS of $0.17, exceeding expectations, with revenue of $1.17 billion, marking a 4% increase compared to the previous year.
• Shares of Viasat have experienced a 4.9% decline and are currently trading with a market capitalization of $3.96 billion and a consensus price target of $21.13.

Ieq Capital LLC bought a new position in Viasat Inc. (NASDAQ:VSAT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 60,230 shares of the communications equipment provider's stock, valued at approximately $628,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank raised its position in Viasat by 7.3% in the 1st quarter. Comerica Bank now owns 33,379 shares of the communications equipment provider's stock worth $348,000 after purchasing an additional 2,279 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Viasat by 4.1% in the 1st quarter. Northern Trust Corp now owns 1,156,547 shares of the communications equipment provider's stock valued at $12,051,000 after buying an additional 45,602 shares during the period. Algert Global LLC acquired a new position in Viasat in the 1st quarter worth $364,000. American Century Companies Inc. boosted its stake in Viasat by 10.8% in the 1st quarter. American Century Companies Inc. now owns 1,361,863 shares of the communications equipment provider's stock worth $14,191,000 after purchasing an additional 132,747 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Viasat in the 1st quarter worth $265,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Viasat Stock Performance

Shares of NASDAQ:VSAT traded down $0.45 on Friday, reaching $29.65. 3,681,033 shares of the company's stock were exchanged, compared to its average volume of 3,809,736. The company has a fifty day moving average of $21.62 and a 200-day moving average of $13.99. Viasat Inc. has a twelve month low of $6.69 and a twelve month high of $33.85. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -6.42 and a beta of 1.27. 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 (NASDAQ:VSAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business's revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Viasat Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on VSAT. William Blair restated an "outperform" rating on shares of Viasat in a research note on Wednesday, August 27th. B. Riley reduced their price objective on shares of Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on shares of Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Needham & Company LLC upped their target price on shares of Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Viasat currently has a consensus rating of "Hold" and an average target price of $21.13.

About Viasat

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.