Invesco Ltd. Reduces Stock Holdings 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. lowered its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,999,959 shares of the communications equipment provider's stock after selling 93,781 shares during the quarter. Invesco Ltd. owned about 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 company. SummerHaven Investment Management LLC boosted its stake in Viasat by 2.9% during the first quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock worth $550,000 after buying an additional 1,494 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Viasat by 11.4% during the first quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock worth $174,000 after buying an additional 1,700 shares during the period. US Bancorp DE boosted its stake in Viasat by 46.4% during the first quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after buying an additional 2,019 shares during the period. MetLife Investment Management LLC boosted its stake in Viasat by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 72,132 shares of the communications equipment provider's stock worth $614,000 after buying an additional 2,050 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Viasat by 233.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after buying an additional 2,224 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Wall Street Analysts Forecast Growth

VSAT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. B. Riley reduced their price target 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. 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 raised shares of Viasat from a "market perform" rating to an "outperform" rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. increased their price target 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. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Viasat has an average rating of "Hold" and an average price target of $21.13.

Viasat Stock Up 9.2%

NASDAQ:VSAT traded up $2.59 during mid-day trading on Tuesday, hitting $30.80. The stock had a trading volume of 5,647,315 shares, compared to its average volume of 4,849,524. The stock has a 50-day simple moving average of $18.80 and a two-hundred day simple moving average of $12.77. The company has a market capitalization of $4.14 billion, a PE ratio of -6.67 and a beta of 1.20. Viasat Inc. has a twelve month low of $6.69 and a twelve month high of $30.92. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42.

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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate 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.