Public Sector Pension Investment Board Has $2.86 Million Stock Position in Viasat Inc. $VSAT

Key Points

• The Public Sector Pension Investment Board increased its stake in Viasat Inc. by 29.8%, acquiring an additional 63,020 shares during the first quarter, bringing its total to 274,250 shares worth approximately $2.86 million.
• Viasat reported a quarterly earnings surprise with $0.17 earnings per share, surpassing estimates of -$0.15, and had a revenue of $1.17 billion, compared to expectations of $1.13 billion.
• Despite the recent positive earnings report, Viasat's stock has declined by 4.8%, with a recent trading price around $26.08.

Public Sector Pension Investment Board boosted its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 29.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,250 shares of the communications equipment provider's stock after buying an additional 63,020 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Viasat worth $2,858,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. SummerHaven Investment Management LLC boosted its stake in Viasat by 2.9% during the first quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock valued at $550,000 after buying an additional 1,494 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Viasat by 11.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock valued at $174,000 after purchasing an additional 1,700 shares during the period. US Bancorp DE boosted its position in shares of Viasat by 46.4% in the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock valued at $66,000 after purchasing an additional 2,019 shares during the period. MetLife Investment Management LLC boosted its position in shares of Viasat by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 72,132 shares of the communications equipment provider's stock valued at $614,000 after purchasing an additional 2,050 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after purchasing an additional 2,224 shares during the period. Institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

Shares of VSAT stock traded up $0.28 during trading on Monday, reaching $28.21. The company had a trading volume of 3,407,397 shares, compared to its average volume of 4,754,236. The firm's 50 day simple moving average is $18.45 and its two-hundred day simple moving average is $12.65. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87. Viasat Inc. has a one year low of $6.69 and a one year high of $28.59. The company has a market capitalization of $3.79 billion, a PE ratio of -6.11 and a beta of 1.20.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business earned $0.30 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Viasat Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. William Blair upgraded Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday, August 4th. B. Riley decreased their price target on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Wall Street Zen raised Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC increased their price objective on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Viasat currently has a consensus rating of "Hold" and a consensus 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.