Investors Buy Large Volume of Call Options on Viasat (NASDAQ:VSAT)

Key Points

• Viasat saw unusual options activity: Investors purchased 12,142 call options, roughly 91% above the average volume of 6,372 contracts.
• Insiders have been selling shares: The CFO and a director recently reduced their holdings, while insiders collectively sold 243,763 shares worth approximately $19.5 million over the past 90 days.
• Analyst sentiment remains broadly positive: Viasat has a consensus “Moderate Buy” rating and an average price target of $90.67, compared with its Wednesday closing price of $70.82.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors bought 12,142 call options on the company. This is an increase of approximately 91% compared to the average volume of 6,372 call options.

Insider Buying and Selling at Viasat

In related news, CFO Garrett Chase sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $74.90, for a total value of $299,600.00. Following the transaction, the chief financial officer directly owned 26,239 shares of the company's stock, valued at approximately $1,965,301.10. This trade represents a 13.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Stenbit sold 705 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $47,058.75. Following the completion of the sale, the director owned 545 shares of the company's stock, valued at approximately $36,378.75. This trade represents a 56.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 243,763 shares of company stock worth $19,537,987 in the last 90 days. Company insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Viasat

Several hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC bought a new stake in shares of Viasat during the first quarter valued at approximately $25,000. Aberdeen Wealth Management LLC bought a new position in Viasat in the second quarter worth $30,000. Elevation Wealth Partners LLC boosted its stake in Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock worth $32,000 after buying an additional 318 shares in the last quarter. Bullseye Investment Management LLC acquired a new stake in Viasat during the second quarter worth $37,000. Finally, Rakuten Securities Inc. bought a new stake in Viasat in the 2nd quarter valued at $43,000. Institutional investors own 86.05% of the company's stock.

Viasat Stock Performance

NASDAQ:VSAT traded up $1.73 during trading hours on Wednesday, hitting $70.82. 299,294 shares of the company traded hands, compared to its average volume of 2,038,006. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. Viasat has a twelve month low of $26.10 and a twelve month high of $93.03. The firm has a 50-day moving average of $75.32 and a 200 day moving average of $68.48. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of -294.15 and a beta of 1.70.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VSAT. Morgan Stanley set a $95.00 target price on shares of Viasat in a research note on Monday, August 10th. Zacks Research upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Needham & Company LLC raised their price target on Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. Finally, Oppenheimer began coverage on Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Viasat currently has a consensus rating of "Moderate Buy" and an average price target of $90.67.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.

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