Viasat (NASDAQ:VSAT) Shares Gap Down - What's Next?

Key Points

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Viasat Inc. (NASDAQ:VSAT - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $29.30, but opened at $27.96. Viasat shares last traded at $28.29, with a volume of 935,474 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on VSAT. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Viasat in a report on Thursday, August 7th. Needham & Company LLC upped their price objective on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. William Blair restated an "outperform" rating on shares of Viasat in a report on Wednesday, August 27th. JPMorgan Chase & Co. increased their price target on Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Barclays restated an "underweight" rating and issued a $23.00 price target (up from $10.00) on shares of Viasat in a report on Wednesday. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $23.29.

Viasat Stock Up 1.0%

The firm has a 50-day moving average of $26.66 and a 200 day moving average of $16.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -6.42 and a beta of 1.27.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In other news, Director Richard A. Baldridge sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $31.00, for a total transaction of $3,100,000.00. Following the transaction, the director owned 197,161 shares in the company, valued at approximately $6,111,991. This trade represents a 33.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Viasat

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of Viasat in the 2nd quarter valued at $43,000. Delos Wealth Advisors LLC bought a new position in shares of Viasat in the 2nd quarter valued at $45,000. PNC Financial Services Group Inc. increased its stake in shares of 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 valued at $33,000 after purchasing an additional 2,224 shares during the last quarter. MAI Capital Management increased its stake in shares of Viasat by 74.7% in the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Viasat by 331.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,779 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 3,671 shares during the last quarter. Institutional investors own 86.05% of the company's stock.

Viasat Company 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.

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