Viasat (NASDAQ:VSAT) Stock Sees Unusually High Call Option Buying

Key Points

• Viasat saw unusually high call-option activity, with traders purchasing 9,946 call options—about 60% above the typical daily volume of 6,204.
• Insiders have been net sellers, including CFO Garrett Chase and Director John Stenbit; insiders sold 257,656 shares worth approximately $20.5 million over the past 90 days.
• Shares rose 8.1% to $76.02, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $90.67. Institutional investors own 86.05% of the stock.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 9,946 call options on the stock. This represents an increase of 60% compared to the typical daily volume of 6,204 call options.

Insider Buying and Selling

In related news, CFO Garrett Chase sold 4,000 shares of the business's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $58.86, for a total value of $235,440.00. Following the sale, the chief financial officer owned 47,534 shares of the company's stock, valued at $2,797,851.24. The trade was a 7.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Stenbit sold 705 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were 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 in the company, valued at $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. In the last 90 days, insiders sold 257,656 shares of company stock worth $20,475,905. Insiders own 1.40% of the company's stock.

Institutional Trading of Viasat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Choreo LLC grew its position in shares of Viasat by 61.8% during the 3rd quarter. Choreo LLC now owns 4,704 shares of the communications equipment provider's stock worth $331,000 after buying an additional 1,797 shares during the period. Hanseatic Management Services Inc. boosted its stake in Viasat by 2.6% in the third quarter. Hanseatic Management Services Inc. now owns 38,168 shares of the communications equipment provider's stock valued at $2,686,000 after acquiring an additional 985 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Viasat by 4.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,599 shares of the communications equipment provider's stock valued at $253,000 after acquiring an additional 164 shares during the last quarter. Moody Aldrich Partners LLC grew its holdings in Viasat by 138.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 30,788 shares of the communications equipment provider's stock worth $2,167,000 after acquiring an additional 17,861 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Viasat during the 3rd quarter worth $399,000. 86.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VSAT has been the topic of several research analyst reports. Wall Street Zen cut shares of Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Morgan Stanley set a $95.00 target price on shares of Viasat in a research note on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a report on Thursday, October 15th. Needham & Company LLC raised their price target on Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $90.67.

Viasat Trading Up 8.1%

VSAT traded up $5.72 during mid-day trading on Wednesday, reaching $76.02. The stock had a trading volume of 2,326,748 shares, compared to its average volume of 2,057,334. The stock has a market capitalization of $10.47 billion, a P/E ratio of -309.98 and a beta of 1.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The firm's fifty day simple moving average is $70.13 and its two-hundred day simple moving average is $63.08. Viasat has a 52 week low of $29.13 and a 52 week high of $93.03.

Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.07. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The firm's quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Viasat will post -0.38 EPS for the current year.

About Viasat

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company's offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.

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