Viasat Inc. $VSAT Stock: Compass Financial Management LLC Cuts Position

Compass Financial Management LLC cut its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 97.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668 shares of the communications equipment provider's stock after selling 27,550 shares during the period. Compass Financial Management LLC's holdings in Viasat were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aberdeen Wealth Management LLC purchased a new stake in shares of Viasat in the second quarter valued at about $30,000. Elevation Wealth Partners LLC boosted its stake in shares of Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock worth $32,000 after acquiring an additional 318 shares in the last quarter. Bullseye Investment Management LLC acquired a new stake in Viasat in the 2nd quarter valued at about $37,000. Rakuten Securities Inc. purchased a new position in shares of Viasat during the 2nd quarter worth approximately $43,000. Finally, Trust Co. of Vermont acquired a new position in Viasat in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

Shares of NASDAQ VSAT opened at $63.95 on Monday. The company has a market capitalization of $8.81 billion, a P/E ratio of -88.82 and a beta of 1.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.65 and a quick ratio of 1.49. Viasat Inc. has a one year low of $29.13 and a one year high of $93.03. The business's 50-day moving average price is $69.77 and its two-hundred day moving average price is $64.26.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.10. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a negative net margin of 2.07% and a negative return on equity of 0.05%. Viasat's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Analysts anticipate that Viasat Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VSAT. Wall Street Zen downgraded shares of Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Needham & Company LLC boosted their price objective on Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Morgan Stanley set a $95.00 price target on Viasat in a report on Monday, August 10th. Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $95.00 target price on shares of Viasat in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.00.

Key Stories Impacting Viasat

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat reported an adjusted loss of $0.32 per share, narrower than analysts’ $0.42 loss estimate, and revenue grew 3.4% year over year. The earnings-per-share beat may be encouraging, although sales fell short of forecasts. Earnings report
• Positive Sentiment: Viasat joined an Open Satellite Memorandum of Understanding focused on direct-to-device connectivity. The initiative could create strategic opportunities in satellite-to-phone services, though the article headline provides no details on near-term financial impact. Open Satellite MoU article
• Neutral Sentiment: SVP Craig Miller sold 22,500 shares for about $1.58 million, reducing his direct stake by 35.12%. The disclosure does not state why he sold, so the transaction alone does not establish a change in his outlook. Insider sale report
• Negative Sentiment: Fiscal second-quarter revenue of $1.18 billion missed the $1.20 billion analyst estimate, and the net loss widened. The company also moved from year-ago earnings of $0.09 per share to a loss, tempering the adjusted EPS beat. Quarterly results coverage
• Negative Sentiment: A report said VSAT shares broke below their 200-day moving average, a technical sign that may weigh on investor sentiment. Technical analysis report

Insider Activity at Viasat

In other news, Director John P. Stenbit sold 705 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $66.75, for a total transaction of $47,058.75. Following the completion of the transaction, the director directly owned 545 shares of the company's stock, valued at approximately $36,378.75. This trade represents a 56.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the firm's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $58.86, for a total transaction of $235,440.00. Following the transaction, the chief financial officer owned 47,534 shares of the company's stock, valued at approximately $2,797,851.24. This represents a 7.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 51,098 shares of company stock valued at $3,593,911. Company insiders own 1.40% of the company's stock.

Viasat Company Profile

Viasat, Inc is a global communications company that designs, develops and operates satellite and wireless communications systems. Its services support consumers, businesses, governments and other organizations that need connectivity in areas where terrestrial networks may be limited.

The company provides satellite broadband for homes and businesses, in-flight connectivity for commercial and business aircraft, and communications services for maritime customers. Viasat also supplies secure communications, networking equipment and related services to government and defense customers.

Founded in 1986 and headquartered in Carlsbad, California, Viasat serves customers in the Americas and internationally.

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