Meeder Asset Management Inc. Purchases 16,470 Shares of Viasat Inc. $VSAT

Key Points

• Meeder Asset Management increased its Viasat stake by 87.6% in the first quarter, buying 16,470 additional shares to bring its total holding to 35,279 shares valued at about $1.62 million.
• Viasat stock was down 2.8% to $69.51, after trading between a one-year low of $14.00 and high of $93.03. The company has a market cap of $9.49 billion and a beta of 1.70.
• The company recently reported mixed quarterly results, with EPS of -$0.02 versus expectations of $0.32 and revenue of $1.17 billion versus $1.20 billion expected. Analyst sentiment remains mixed, though the consensus rating is still Moderate Buy with an average price target of $84.11.

Meeder Asset Management Inc. raised its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 87.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,279 shares of the communications equipment provider's stock after purchasing an additional 16,470 shares during the period. Meeder Asset Management Inc.'s holdings in Viasat were worth $1,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat in the 1st quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Viasat during the 4th quarter worth $36,000. Los Angeles Capital Management LLC bought a new stake in shares of Viasat during the 4th quarter worth $38,000. EFG International AG acquired a new stake in Viasat in the fourth quarter valued at about $41,000. Finally, Danske Bank A S acquired a new stake in Viasat in the fourth quarter valued at about $47,000. 86.05% of the stock is currently owned by institutional investors.

Viasat Stock Down 2.8%

NASDAQ:VSAT opened at $69.51 on Tuesday. Viasat Inc. has a one year low of $14.00 and a one year high of $93.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The company has a market cap of $9.49 billion, a PE ratio of -239.69 and a beta of 1.70. The firm's 50 day simple moving average is $71.87 and its 200 day simple moving average is $57.21.

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

Insider Buying and Selling

In other Viasat news, Director Richard A. Baldridge sold 27,122 shares of the company'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 sale, the director owned 213,355 shares in the company, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theresa Wise sold 2,500 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the transaction, the director owned 11,000 shares of the company's stock, valued at $759,000. This trade represents a 18.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 438,803 shares of company stock valued at $28,655,600 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Zacks Research downgraded Viasat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. B. Riley Financial lifted their price target on shares of Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a report on Friday, May 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research report on Friday. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $97.00 target price on shares of Viasat in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.11.

Viasat 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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