Traders Purchase High Volume of Call Options on Viasat (NASDAQ:VSAT)

Viasat Inc. (NASDAQ:VSAT) was the recipient of some unusual options trading on Friday. Stock investors bought 50,768 call options on the company. This is an increase of approximately 858% compared to the typical daily volume of 5,300 call options.

Insider Activity

In other Viasat news, SVP Craig Andrew Miller sold 5,260 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the sale, the senior vice president owned 21,252 shares of the company’s stock, valued at $1,062,600. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the sale, the senior vice president directly owned 38,108 shares in the company, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,071 shares of company stock valued at $1,804,437 in the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brightline Capital Management LLC raised its stake in shares of Viasat by 1.8% during the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after buying an additional 36,000 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Viasat in the third quarter valued at approximately $4,230,000. Inspire Advisors LLC purchased a new stake in Viasat in the third quarter valued at approximately $4,498,000. Hudson Bay Capital Management LP purchased a new stake in shares of Viasat during the third quarter worth $7,325,000. Finally, American Century Companies Inc. increased its position in shares of Viasat by 38.5% during the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after acquiring an additional 1,033,194 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Trading Down 5.6%

Shares of NASDAQ VSAT traded down $4.16 during midday trading on Friday, hitting $70.14. The company’s stock had a trading volume of 487,081 shares, compared to its average volume of 1,673,661. Viasat has a 12-month low of $8.61 and a 12-month high of $75.14. The firm has a market cap of $9.53 billion, a P/E ratio of -27.00 and a beta of 1.66. The business’s 50 day moving average is $55.66 and its two-hundred day moving average is $45.19. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VSAT. Morgan Stanley set a $51.00 price objective on Viasat in a research report on Friday, January 16th. New Street Research began coverage on shares of Viasat in a research note on Wednesday. They set a “buy” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $48.00 in a research note on Friday, February 6th. Barclays upgraded Viasat from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $49.00 in a research note on Wednesday, April 8th. Finally, Raymond James Financial set a $74.00 price target on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Viasat currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

About Viasat

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.