VNBTrust National Association lowered its stake in ViaSat Inc. (NASDAQ:VSAT) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 87,814 shares of the company’s stock after selling 6,473 shares during the period. ViaSat makes up 3.7% of VNBTrust National Association’s investment portfolio, making the stock its 5th largest position. VNBTrust National Association’s holdings in ViaSat were worth $6,270,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in ViaSat by 71.0% in the second quarter. LS Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $194,000 after buying an additional 1,131 shares during the period. CHICAGO TRUST Co NA bought a new stake in ViaSat during the second quarter valued at approximately $202,000. Royal Bank of Canada raised its stake in ViaSat by 1,412.3% in the first quarter. Royal Bank of Canada now owns 2,828 shares of the company’s stock valued at $208,000 after buying an additional 2,641 shares during the period. BlackRock Inc. raised its stake in ViaSat by 120.1% in the first quarter. BlackRock Inc. now owns 2,923 shares of the company’s stock valued at $214,000 after buying an additional 1,595 shares during the period. Finally, Leavell Investment Management Inc. bought a new stake in ViaSat during the second quarter valued at approximately $246,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ViaSat Inc. (NASDAQ:VSAT) traded up 1.13% during mid-day trading on Tuesday, reaching $75.40. The company’s stock had a trading volume of 129,214 shares. The company’s 50 day moving average price is $74.49 and its 200-day moving average price is $73.39. ViaSat Inc. has a 1-year low of $56.02 and a 1-year high of $79.15. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 176.17 and a beta of 0.96.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.03. The firm earned $363.10 million during the quarter, compared to analyst estimates of $371.89 million. ViaSat had a net margin of 1.46% and a return on equity of 2.59%. ViaSat’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts predict that ViaSat Inc. will post $1.20 earnings per share for the current fiscal year.
Several research firms recently commented on VSAT. Zacks Investment Research lowered ViaSat from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. B. Riley reaffirmed a “buy” rating and set a $89.00 target price on shares of ViaSat in a report on Thursday, June 2nd. TheStreet lowered ViaSat from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Finally, Jefferies Group began coverage on ViaSat in a report on Monday, August 1st. They set a “hold” rating and a $85.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $73.60.
In other ViaSat news, Director John P. Stenbit sold 800 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $75.12, for a total value of $60,096.00. Following the transaction, the director now directly owns 7,200 shares in the company, valued at $540,864. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark D. Dankberg sold 26,250 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $75.27, for a total transaction of $1,975,837.50. Following the completion of the transaction, the chief executive officer now owns 26,250 shares in the company, valued at $1,975,837.50. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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