Tenzing Global Management LLC Makes New $7.17 Million Investment in Viasat, Inc. (NASDAQ:VSAT)

Tenzing Global Management LLC bought a new position in Viasat, Inc. (NASDAQ:VSAT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 842,500 shares of the communications equipment provider's stock, valued at approximately $7,170,000. Viasat accounts for about 5.4% of Tenzing Global Management LLC's investment portfolio, making the stock its 9th largest holding. Tenzing Global Management LLC owned about 0.66% of Viasat as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Viasat by 75.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 1,267 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Viasat in the 4th quarter valued at about $31,000. Sterling Capital Management LLC raised its holdings in shares of Viasat by 850.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock valued at $34,000 after purchasing an additional 3,546 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Viasat during the 4th quarter worth $35,000. Finally, AlphaQuest LLC boosted its position in Viasat by 39.0% during the fourth quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider's stock valued at $38,000 after purchasing an additional 1,255 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VSAT. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Monday, March 24th. Cantor Fitzgerald began coverage on shares of Viasat in a research report on Friday, January 24th. They issued a "neutral" rating and a $12.00 price objective on the stock. William Blair reaffirmed a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. StockNews.com upgraded Viasat from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Morgan Stanley decreased their price target on Viasat from $26.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $14.57.

Viasat Price Performance

Shares of NASDAQ:VSAT traded down $0.52 during midday trading on Wednesday, reaching $10.01. 5,073,106 shares of the company's stock traded hands, compared to its average volume of 2,806,775. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. The company has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $9.30. The company has a market cap of $1.29 billion, a P/E ratio of -2.98 and a beta of 1.01. Viasat, Inc. has a 1 year low of $6.69 and a 1 year high of $26.70.

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.