109,649 Shares in Viasat Inc. $VSAT Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 109,649 shares of the communications equipment provider’s stock, valued at approximately $1,601,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Viasat by 233.4% during 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 buying an additional 2,224 shares during the period. MAI Capital Management raised its holdings in shares of Viasat by 74.7% during the first quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 1,640 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Viasat during the second quarter valued at $43,000. Quarry LP grew its stake in Viasat by 2,412.3% in the first quarter. Quarry LP now owns 5,728 shares of the communications equipment provider’s stock valued at $60,000 after purchasing an additional 5,500 shares in the last quarter. Finally, US Bancorp DE grew its stake in Viasat by 46.4% in the first quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 2,019 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling at Viasat

In other news, insider Benjamin Edward Palmer sold 2,780 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $36.06, for a total value of $100,246.80. Following the sale, the insider directly owned 27,831 shares of the company’s stock, valued at approximately $1,003,585.86. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert James Blair sold 2,269 shares of Viasat stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $35.61, for a total value of $80,799.09. Following the completion of the transaction, the senior vice president owned 68,519 shares in the company, valued at $2,439,961.59. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,049 shares of company stock worth $3,281,046 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Viasat Trading Up 2.5%

NASDAQ:VSAT opened at $35.14 on Friday. Viasat Inc. has a 12 month low of $7.36 and a 12 month high of $43.59. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -8.79 and a beta of 1.37. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $34.92 and its 200-day moving average is $24.90.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.20. Viasat had a negative net margin of 11.40% and a negative return on equity of 3.65%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned ($0.23) EPS. Viasat’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that Viasat Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VSAT. Barclays reaffirmed an “underweight” rating and set a $23.00 price target (up from $10.00) on shares of Viasat in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Viasat in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised shares of Viasat from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $50.00 in a research report on Tuesday, November 11th. Raymond James Financial upgraded shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a research note on Monday, November 10th. Finally, Wall Street Zen raised shares of Viasat from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Viasat presently has a consensus rating of “Hold” and a consensus price target of $32.75.

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.