Invesco Ltd. Lowers Position in Viasat Inc. $VSAT

Key Points

• Invesco Ltd. reduced its stake in Viasat Inc. by 4.5% during Q1, now owning approximately 1.55% of the company valued at $20.84 million.
• Viasat reported a quarterly earnings per share (EPS) of $0.17, surpassing estimates and reflecting a 4% year-over-year revenue increase to $1.17 billion.
• Despite recent adjustments from analysts, Viasat holds a consensus rating of "Hold" with a target price of $21.13 amidst varied price adjustments from different research firms.

Invesco Ltd. trimmed its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,999,959 shares of the communications equipment provider's stock after selling 93,781 shares during the quarter. Invesco Ltd. owned approximately 1.55% of Viasat worth $20,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Citigroup Inc. grew its position in shares of Viasat by 417.0% in the 1st quarter. Citigroup Inc. now owns 769,857 shares of the communications equipment provider's stock valued at $8,022,000 after buying an additional 620,947 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Viasat by 41.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 213,284 shares of the communications equipment provider's stock valued at $2,222,000 after buying an additional 62,759 shares during the last quarter. Deutsche Bank AG grew its position in shares of Viasat by 91.8% in the 1st quarter. Deutsche Bank AG now owns 850,192 shares of the communications equipment provider's stock valued at $8,859,000 after buying an additional 406,967 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Viasat by 26.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,384,942 shares of the communications equipment provider's stock valued at $24,851,000 after buying an additional 497,405 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Viasat by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 14,646,644 shares of the communications equipment provider's stock valued at $152,618,000 after buying an additional 872,784 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VSAT shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. Needham & Company LLC increased their target price on shares of Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. B. Riley lowered their price objective on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, William Blair raised shares of Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.13.

Viasat Stock Performance

Viasat stock traded up $1.32 during midday trading on Friday, hitting $27.93. 4,936,328 shares of the company's stock were exchanged, compared to its average volume of 4,596,949. Viasat Inc. has a 12-month low of $6.69 and a 12-month high of $28.59. 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 stock has a market cap of $3.75 billion, a price-to-earnings ratio of -6.05 and a beta of 1.20. The firm's 50 day simple moving average is $18.14 and its 200 day simple moving average is $12.51.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.32. The business had revenue of $1.17 billion for 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 business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities research analysts predict that Viasat Inc. will post -0.54 EPS for the current 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.