Inspire Investing LLC Has $341,000 Stake in Viasat Inc. $VSAT

Key Points

• Inspire Investing LLC reduced its shareholding in Viasat Inc. by 31.1%, now owning 32,693 shares valued at approximately $341,000.
• Viasat's recent quarterly earnings surpassed analysts' expectations, reporting $0.17 EPS against a consensus estimate of ($0.15), alongside a revenue increase of 4.0% year-over-year.
• Multiple institutional investors, including PNC Financial Services and Quarry LP, significantly increased their positions in Viasat during the first quarter, contributing to a total institutional ownership of 86.05% in the company.

Inspire Investing LLC cut its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 31.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,693 shares of the communications equipment provider's stock after selling 14,791 shares during the quarter. Inspire Investing LLC's holdings in Viasat were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VSAT. PNC Financial Services Group Inc. raised its position in Viasat by 233.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after acquiring an additional 2,224 shares in the last quarter. MAI Capital Management raised its holdings in Viasat by 74.7% during the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after buying an additional 1,640 shares during the period. Quarry LP raised its holdings in Viasat by 2,412.3% during the 1st quarter. Quarry LP now owns 5,728 shares of the communications equipment provider's stock worth $60,000 after buying an additional 5,500 shares during the period. Meeder Asset Management Inc. acquired a new stake in Viasat during the 1st quarter worth about $63,000. Finally, US Bancorp DE raised its holdings 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 buying an additional 2,019 shares during the period. 86.05% of the stock is currently owned by institutional investors.

Viasat Stock Performance

Viasat stock traded down $0.53 during trading hours on Friday, reaching $29.61. 13,359,016 shares of the company were exchanged, compared to its average volume of 4,695,776. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -6.41 and a beta of 1.26. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42. The stock has a 50-day moving average of $24.71 and a 200 day moving average of $15.56. Viasat Inc. has a 12 month low of $6.69 and a 12 month high of $34.05.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings results 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. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VSAT has been the topic of several recent analyst reports. Needham & Company LLC boosted their price objective on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. 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 note on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Viasat in a research note on Wednesday, August 27th. B. Riley lowered their target price on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $21.43.

Insider Activity at Viasat

In related news, Director Richard A. Baldridge sold 100,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $31.00, for a total value of $3,100,000.00. Following the completion of the transaction, the director directly owned 197,161 shares in the company, valued at approximately $6,111,991. This represents a 33.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Viasat 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.