Jump Financial LLC Sells 139,820 Shares of Viasat Inc. $VSAT

Key Points

• Jump Financial LLC has reduced its holdings in Viasat Inc. by 37.4% during the first quarter, now owning 233,800 shares valued at $2.43 million.
• Analysts have recently given mixed reviews on Viasat, with ratings ranging from "outperform" to "hold" and revised price targets between $16.00 and $56.00.
• Viasat's recent quarterly earnings report showed a profit of $0.17 per share, surpassing estimates, while revenue increased by 4.0% year over year.

Jump Financial LLC lessened its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 37.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 233,800 shares of the communications equipment provider's stock after selling 139,820 shares during the period. Jump Financial LLC owned 0.18% of Viasat worth $2,436,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Northern Trust Corp grew its holdings in Viasat by 4.1% during the first quarter. Northern Trust Corp now owns 1,156,547 shares of the communications equipment provider's stock valued at $12,051,000 after purchasing an additional 45,602 shares during the period. Algert Global LLC purchased a new position in shares of Viasat in the first quarter valued at about $364,000. American Century Companies Inc. lifted its position in shares of Viasat by 10.8% in the first quarter. American Century Companies Inc. now owns 1,361,863 shares of the communications equipment provider's stock valued at $14,191,000 after acquiring an additional 132,747 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Viasat in the first quarter valued at about $265,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Viasat by 2.9% in the first quarter. Neuberger Berman Group LLC now owns 5,190,232 shares of the communications equipment provider's stock valued at $53,913,000 after acquiring an additional 145,868 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. William Blair reiterated an "outperform" rating on shares of Viasat in a research report on Wednesday. Finally, B. Riley decreased their target price on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Four investment 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, the company presently has an average rating of "Hold" and an average target price of $21.13.

Viasat Trading Down 0.6%

Shares of VSAT traded down $0.20 during mid-day trading on Friday, reaching $32.33. 2,951,655 shares of the company's stock traded hands, compared to its average volume of 5,419,050. The stock has a market cap of $4.34 billion, a P/E ratio of -7.00 and a beta of 1.20. The stock's 50-day moving average is $19.96 and its two-hundred day moving average is $13.22. Viasat Inc. has a 12 month low of $6.69 and a 12 month high of $33.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87.

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

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.