Wellington Shields Capital Management LLC bought a new position in shares of ViaSat, Inc. (NASDAQ:VSAT) during the 3rd quarter, HoldingsChannel reports. The firm bought 7,800 shares of the communications equipment provider’s stock, valued at approximately $499,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. UBS Group AG raised its holdings in shares of ViaSat by 27.7% in the 1st quarter. UBS Group AG now owns 19,370 shares of the communications equipment provider’s stock worth $1,273,000 after purchasing an additional 4,199 shares during the period. LPL Financial LLC purchased a new position in shares of ViaSat in the 1st quarter worth about $235,000. Legal & General Group Plc raised its holdings in shares of ViaSat by 16.3% in the 1st quarter. Legal & General Group Plc now owns 59,795 shares of the communications equipment provider’s stock worth $3,930,000 after purchasing an additional 8,385 shares during the period. Royal Bank of Canada raised its holdings in shares of ViaSat by 109.7% in the 1st quarter. Royal Bank of Canada now owns 3,858 shares of the communications equipment provider’s stock worth $252,000 after purchasing an additional 2,018 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of ViaSat by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 237,560 shares of the communications equipment provider’s stock worth $15,613,000 after purchasing an additional 8,576 shares during the period.
In other ViaSat news, Director John P. Stenbit sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $62.67, for a total transaction of $50,136.00. Following the completion of the sale, the director now owns 800 shares in the company, valued at approximately $50,136. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keven K. Lippert sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $63.28, for a total value of $101,248.00. Following the sale, the executive vice president now owns 93 shares of the company’s stock, valued at approximately $5,885.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,100 shares of company stock valued at $10,899,005. 8.10% of the stock is owned by insiders.
VSAT stock opened at $71.22 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.70 and a quick ratio of 1.19. ViaSat, Inc. has a 1 year low of $59.16 and a 1 year high of $80.26.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, November 1st. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.16. ViaSat had a negative return on equity of 4.95% and a negative net margin of 5.87%. The business had revenue of $517.50 million during the quarter, compared to analyst estimates of $468.99 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. As a group, analysts predict that ViaSat, Inc. will post -1.66 EPS for the current year.
VSAT has been the topic of a number of research reports. TheStreet downgraded ViaSat from a “c-” rating to a “d+” rating in a report on Friday, October 5th. ValuEngine downgraded ViaSat from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub upgraded ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 3rd. Zacks Investment Research lowered ViaSat from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Finally, Barclays set a $50.00 target price on ViaSat and gave the company a “sell” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ViaSat currently has a consensus rating of “Hold” and a consensus price target of $66.57.
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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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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