Y Intercept Hong Kong Ltd Acquires Shares of 70,577 Viasat Inc. (NASDAQ:VSAT)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Viasat Inc. worth approximately $735,000, owning 0.05% of the company at the end of the reporting period.
• Several large investors, including Vanguard Group Inc. and Bank of America Corp DE, have increased their positions in Viasat significantly, indicating strong institutional interest.
• Viasat's stock has seen a decline, with analysts adjusting price targets, including a reduction from $19.00 to $16.00 by Needham & Company LLC, while maintaining a "buy" rating.

Y Intercept Hong Kong Ltd acquired a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 70,577 shares of the communications equipment provider's stock, valued at approximately $735,000. Y Intercept Hong Kong Ltd owned 0.05% of Viasat at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VSAT. SummerHaven Investment Management LLC grew its position 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 valued at $550,000 after acquiring an additional 1,494 shares during the last quarter. Kestra Private Wealth Services LLC grew its position 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 valued at $174,000 after acquiring an additional 1,700 shares during the last quarter. MetLife Investment Management LLC grew its position 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 valued at $614,000 after acquiring an additional 2,050 shares during the last quarter. Hennessy Advisors Inc. grew its position in Viasat by 25.8% during the first quarter. Hennessy Advisors Inc. now owns 13,512 shares of the communications equipment provider's stock valued at $141,000 after acquiring an additional 2,773 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Viasat by 850.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock valued at $34,000 after acquiring an additional 3,546 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC decreased their price objective on Viasat from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. B. Riley decreased their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. William Blair reiterated a "market perform" rating on shares of Viasat in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Viasat from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.00.

Viasat Trading Up 5.7%

NASDAQ:VSAT traded up $0.83 during mid-day trading on Wednesday, reaching $15.52. 3,133,157 shares of the company's stock traded hands, compared to its average volume of 2,119,825. Viasat Inc. has a 12-month low of $6.69 and a 12-month high of $26.70. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -3.49 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.72 and a quick ratio of 1.55. The company has a 50 day moving average price of $13.04 and a 200-day moving average price of $10.70.

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.