Viasat, Inc. (NASDAQ:VSAT) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its stake in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 78.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,154 shares of the communications equipment provider's stock after selling 656,873 shares during the period. Millennium Management LLC owned about 0.14% of Viasat worth $1,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Viasat by 26.4% in the fourth quarter. American Century Companies Inc. now owns 1,229,116 shares of the communications equipment provider's stock valued at $10,460,000 after acquiring an additional 256,389 shares during the last quarter. Principal Financial Group Inc. increased its stake in Viasat by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 413,122 shares of the communications equipment provider's stock valued at $3,516,000 after purchasing an additional 12,802 shares during the period. Vanguard Group Inc. increased its stake in Viasat by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 13,773,860 shares of the communications equipment provider's stock valued at $117,216,000 after purchasing an additional 194,006 shares during the period. Mariner LLC acquired a new position in Viasat in the fourth quarter valued at $682,000. Finally, Federated Hermes Inc. acquired a new position in Viasat in the fourth quarter valued at $42,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Stock Performance

Shares of Viasat stock traded up $0.23 on Thursday, reaching $9.12. 11,513,032 shares of the stock were exchanged, compared to its average volume of 2,886,825. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $9.32. Viasat, Inc. has a 1-year low of $6.69 and a 1-year high of $26.70. The firm has a market capitalization of $1.19 billion, a PE ratio of -2.71 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Viasat from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. B. Riley dropped their price objective on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Monday, March 24th. William Blair restated a "market perform" rating on shares of Viasat in a research note on Tuesday, April 15th. Finally, Barclays boosted their price target on shares of Viasat from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $18.88.

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.