Viasat Sees Unusually Large Options Volume (NASDAQ:VSAT)

Key Points

• Viasat saw unusually heavy options activity: Traders bought 15,854 call options, 154% above the typical daily volume of 6,253.
• Shares rose $4.96 to $81.89, while the company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.02 per share versus the $0.32 consensus estimate.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and an $84.11 price target, although insiders sold 442,803 shares worth approximately $28.9 million in the latest quarter.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) was the target of unusually large options trading activity on Monday. Stock traders bought 15,854 call options on the company. This is an increase of 154% compared to the typical daily volume of 6,253 call options.

Viasat Price Performance

Shares of VSAT stock traded up $4.96 on Monday, reaching $81.89. The company had a trading volume of 1,285,691 shares, compared to its average volume of 2,101,191. The business's 50-day moving average is $72.25 and its 200 day moving average is $59.47. Viasat has a one year low of $18.31 and a one year high of $93.03. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $11.28 billion, a PE ratio of -282.65 and a beta of 1.70.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Equities research analysts forecast that Viasat will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VSAT. Barclays set a $49.00 price target on Viasat in a research report on Friday, May 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a report on Friday, July 17th. Oppenheimer initiated coverage on Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 target price for the company. Needham & Company LLC increased their target price on Viasat from $58.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, June 1st. 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 assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viasat has an average rating of "Moderate Buy" and a consensus price target of $84.11.

Insider Buying and Selling at Viasat

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total transaction of $249,640.00. Following the transaction, the chief financial officer owned 34,239 shares in the company, valued at $2,136,855.99. This represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the transaction, the chief executive officer directly owned 1,082,196 shares in the company, valued at $70,083,012.96. This represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 442,803 shares of company stock valued at $28,944,520 in the last quarter. Company insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Viasat by 483.2% during the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider's stock worth $1,140,000 after acquiring an additional 90,680 shares during the last quarter. AQR Capital Management LLC raised its position in Viasat by 189.7% in the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider's stock valued at $4,692,000 after purchasing an additional 296,612 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Viasat by 673.7% during the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock valued at $14,443,000 after purchasing an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Viasat by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock valued at $29,866,000 after purchasing an additional 1,128,338 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Viasat by 6.9% during the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider's stock worth $2,357,000 after acquiring an additional 14,575 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Company Profile

Viasat, Inc NASDAQ: VSAT provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat's product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.

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