UBS Group AG Decreases Stock Holdings in Viasat Inc. $VSAT

Key Points

• UBS Group AG cut its Viasat stake by 26.3% in the fourth quarter, selling 297,698 shares and ending with 833,773 shares worth about $28.7 million.
• Insiders also sold shares, including SVP Robert James Blair and Craig Andrew Miller, with total insider sales last quarter reaching 38,071 shares worth about $1.8 million.
• Analysts remain mixed but mostly constructive on Viasat: the stock has a consensus “Moderate Buy” rating with an average target price of $60.57, though one analyst still rates it a sell.

UBS Group AG decreased its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 26.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 833,773 shares of the communications equipment provider's stock after selling 297,698 shares during the quarter. UBS Group AG owned approximately 0.62% of Viasat worth $28,732,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Viasat in the third quarter valued at about $25,000. Hantz Financial Services Inc. increased its position in shares of Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider's stock valued at $26,000 after acquiring an additional 886 shares during the period. Activest Wealth Management purchased a new position in shares of Viasat in the third quarter valued at about $44,000. Larson Financial Group LLC increased its position in shares of 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 valued at $66,000 after acquiring an additional 2,214 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Viasat by 20.1% in the fourth quarter. GAMMA Investing LLC now owns 2,866 shares of the communications equipment provider's stock valued at $99,000 after acquiring an additional 479 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $70.01 on Friday. Viasat Inc. has a 1 year low of $8.61 and a 1 year high of $70.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The company's 50-day moving average is $53.13 and its 200 day moving average is $43.95. The stock has a market capitalization of $9.51 billion, a P/E ratio of -27.03 and a beta of 1.66.

Insiders Place Their Bets

In other Viasat news, SVP Robert James Blair sold 30,411 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the sale, the senior vice president owned 38,108 shares in the company, valued at approximately $1,792,600.32. This represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Craig Andrew Miller sold 5,260 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the sale, the senior vice president owned 21,252 shares in the company, valued at approximately $1,062,600. This trade represents a 19.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,071 shares of company stock worth $1,804,437. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VSAT has been the topic of a number of analyst reports. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an "outperform" rating in a research report on Friday, April 24th. Morgan Stanley set a $51.00 price target on shares of Viasat in a research report on Friday, January 16th. William Blair reiterated an "outperform" rating on shares of Viasat in a research report on Tuesday, January 13th. Barclays upgraded shares of Viasat from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $23.00 to $49.00 in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.57.

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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