Voleon Capital Management LP Has $422,000 Holdings in Viasat Inc. $VSAT

Key Points

• Voleon Capital Management LP increased its stake in Viasat Inc. by 117.2%, acquiring an additional 21,853 shares during the first quarter, bringing its total holdings to 40,492 shares valued at $422,000.
• Analysts have mixed ratings on Viasat, with price targets ranging from $10.00 to $56.00; currently, the stock has an average target price of $21.13 and an average rating of "Hold."
• Viasat's recent earnings report showed a profit of $0.17 per share, surpassing estimates, with revenues increasing by 4.0% year-over-year to $1.17 billion.

Voleon Capital Management LP grew its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 117.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,492 shares of the communications equipment provider's stock after purchasing an additional 21,853 shares during the period. Voleon Capital Management LP's holdings in Viasat were worth $422,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VSAT. PNC Financial Services Group Inc. increased its position 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 worth $33,000 after purchasing an additional 2,224 shares during the last quarter. MAI Capital Management increased its position in Viasat by 74.7% in 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 increased its position in Viasat by 2,412.3% in 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 position in Viasat in the 1st quarter worth about $63,000. Finally, US Bancorp DE increased its position in Viasat by 46.4% in 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.

Viasat Stock Performance

Viasat stock traded up $1.44 during trading hours on Monday, hitting $31.99. The stock had a trading volume of 1,395,942 shares, compared to its average volume of 3,659,350. The company has a 50-day moving average of $23.13 and a two-hundred day moving average of $14.78. The company has a quick ratio of 1.87, a current ratio of 2.11 and a debt-to-equity ratio of 1.42. The company has a market cap of $4.30 billion, a PE ratio of -6.92 and a beta of 1.26. Viasat Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $33.85.

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

Analyst Ratings Changes

Several brokerages have weighed in on VSAT. B. Riley dropped 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. William Blair reiterated an "outperform" rating on shares of Viasat in a research note on Wednesday, August 27th. Needham & Company LLC upped their price target on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.13.

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.