Rhumbline Advisers Has $3.18 Million Stake in Viasat Inc. $VSAT

Key Points

• Rhumbline Advisers reduced its stake in Viasat Inc. by 4.4%, now owning 0.24% of the company, valued at approximately $3.18 million.
• Director Richard A. Baldridge sold 100,000 shares of Viasat for about $3.1 million, representing a significant decrease in his position.
• Analysts have mixed opinions on Viasat, with price targets ranging from $16.00 to $56.00, indicating a consensus rating of "Hold" with a target price of $21.13.

Rhumbline Advisers trimmed its holdings in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,287 shares of the communications equipment provider's stock after selling 14,184 shares during the period. Rhumbline Advisers owned 0.24% of Viasat worth $3,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in shares of Viasat by 2.9% in the 1st 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 during the period. MAI Capital Management lifted its holdings in shares of Viasat by 74.7% in the first quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 1,640 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Viasat by 11.4% in the first 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 in the last quarter. US Bancorp DE raised its holdings in Viasat by 46.4% during the first quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after acquiring an additional 2,019 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Viasat by 233.4% during 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. 86.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Viasat

In other news, Director Richard A. Baldridge sold 100,000 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 197,161 shares in the company, valued at $6,111,991. The trade was a 33.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on VSAT. B. Riley dropped their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Needham & Company LLC increased their price target on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Viasat in a report on Thursday, August 7th. William Blair reaffirmed an "outperform" rating on shares of Viasat in a report on Wednesday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.13.

Viasat Stock Performance

Shares of Viasat stock opened at $32.92 on Tuesday. Viasat Inc. has a one year low of $6.69 and a one year high of $33.85. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -7.13 and a beta of 1.26. The business has a 50-day simple moving average of $23.47 and a 200 day simple moving average of $14.95. 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 (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.32. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.13 billion. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. On average, research analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Viasat Company 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.

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