Tenzing Global Management LLC Boosts Position in Viasat Inc. $VSAT

Key Points

• Tenzing Global Management LLC increased its holdings in Viasat Inc. by 12.8%, acquiring an additional 107,500 shares during the first quarter, now making Viasat the fourth largest holding in their portfolio.
• Viasat reported a Q1 EPS of $0.17, surpassing estimates and generating revenue of $1.17 billion, a 4% increase compared to the same quarter last year.
• Institutional investors now own 86.05% of Viasat's stock, with several firms like Vanguard Group and Charles Schwab significantly increasing their stakes in the company recently.

Tenzing Global Management LLC boosted its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 950,000 shares of the communications equipment provider's stock after acquiring an additional 107,500 shares during the period. Viasat accounts for about 7.2% of Tenzing Global Management LLC's investment portfolio, making the stock its 4th largest position. Tenzing Global Management LLC owned about 0.74% of Viasat worth $9,899,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after acquiring an additional 2,224 shares during the last quarter. MAI Capital Management boosted its stake in shares of Viasat by 74.7% during the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 1,640 shares during the last quarter. Quarry LP boosted its stake in shares of Viasat by 2,412.3% during the 1st quarter. Quarry LP now owns 5,728 shares of the communications equipment provider's stock worth $60,000 after purchasing an additional 5,500 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Viasat during the 1st quarter worth about $63,000. Finally, US Bancorp DE boosted its stake in shares of Viasat by 46.4% during the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after purchasing an additional 2,019 shares during the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. William Blair restated an "outperform" rating on shares of Viasat in a report on Wednesday, August 27th. Needham & Company LLC raised their price target on shares of Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Viasat currently has an average rating of "Hold" and a consensus price target of $21.13.

Viasat Stock Up 2.6%

Shares of VSAT stock traded up $0.77 during mid-day trading on Tuesday, reaching $30.87. 3,301,476 shares of the company were exchanged, compared to its average volume of 3,962,261. Viasat Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $33.85. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11. The company has a market capitalization of $4.14 billion, a P/E ratio of -6.68 and a beta of 1.27. The business's 50 day simple moving average is $22.26 and its 200 day simple moving average is $14.28.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.13 billion. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.37%. The firm's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Research analysts predict that Viasat Inc. will post -0.54 earnings per share for the current year.

About Viasat

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.