Hanseatic Management Services Inc. Takes $1.58 Million Position in Viasat Inc. $VSAT

Hanseatic Management Services Inc. purchased a new position in Viasat Inc. (NASDAQ:VSAT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,569 shares of the communications equipment provider’s stock, valued at approximately $1,583,000. Viasat comprises 1.5% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Viasat by 483.2% in 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 in the last quarter. AQR Capital Management LLC raised its stake in shares of Viasat by 189.7% during 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 acquiring an additional 296,612 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Viasat by 673.7% in 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 during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Viasat by 64.9% in 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 during the period. Finally, Empowered Funds LLC grew its stake in Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after purchasing an additional 14,575 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VSAT. Zacks Research downgraded Viasat from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Oppenheimer initiated coverage on Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price for the company. B. Riley Financial increased their price target on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Barclays set a $49.00 price objective on shares of Viasat in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Insider Activity

In related news, Director Theresa Wise sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the sale, the director owned 11,000 shares of the company’s stock, valued at $759,000. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the completion of the transaction, the chief financial officer owned 34,239 shares in the company, valued at $2,136,855.99. This trade represents a 10.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 438,803 shares of company stock worth $28,655,600 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Viasat Stock Performance

Shares of NASDAQ:VSAT opened at $71.48 on Friday. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of -246.48 and a beta of 1.70. Viasat Inc. has a 52 week low of $14.00 and a 52 week 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 firm has a 50 day moving average of $71.94 and a 200 day moving average of $56.81.

Viasat (NASDAQ:VSAT) last announced its 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). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted ($0.02) EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

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.