SG Americas Securities LLC Decreases Stake in Viasat Inc. $VSAT

Key Points

• SG Americas Securities LLC reduced its Viasat stake by 15.5% in the first quarter, selling 18,193 shares and leaving it with 98,826 shares valued at about $4.53 million.
• Viasat’s latest quarterly results missed Wall Street expectations, posting a loss of $0.02 per share versus an expected profit of $0.32 per share, while revenue of $1.17 billion also came in slightly below estimates.
• Despite mixed fundamentals, analysts remain largely bullish on Viasat, with a consensus “Moderate Buy” rating and an average price target of $84.11; several insiders also sold shares recently, including CEO Mark D. Dankberg.

SG Americas Securities LLC cut its stake in Viasat Inc. (NASDAQ:VSAT - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,826 shares of the communications equipment provider's stock after selling 18,193 shares during the period. SG Americas Securities LLC owned approximately 0.07% of Viasat worth $4,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC acquired a new stake in shares of Viasat during the 4th quarter worth approximately $38,000. EFG International AG purchased a new stake in shares of Viasat during the 4th quarter valued at approximately $41,000. Danske Bank A S acquired a new position in Viasat in the fourth quarter valued at approximately $47,000. Finally, Larson Financial Group LLC grew its position in Viasat by 7,380.0% in the third quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider's stock worth $66,000 after acquiring an additional 2,214 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Price Performance

Shares of VSAT opened at $76.69 on Tuesday. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of -264.45 and a beta of 1.70. The firm's fifty day simple moving average is $68.35 and its 200-day simple moving average is $52.91. Viasat Inc. has a twelve month low of $14.00 and a twelve month high of $89.79. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35.

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 analysts' consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm earned ($0.02) earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the transaction, the chief financial officer directly owned 34,239 shares in the company, valued at approximately $2,136,855.99. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of Viasat stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the sale, the chief executive officer directly owned 1,082,196 shares in the company, valued at approximately $70,083,012.96. The trade was a 26.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 438,275 shares of company stock worth $28,608,719. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VSAT shares. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the stock an "outperform" rating in a research note on Friday, April 24th. New Street Research began coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price objective on the stock. Oppenheimer began coverage on shares of Viasat in a research report on Monday. They set an "outperform" rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Viasat in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.11.

Viasat Company 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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