Legacy Capital Group California Inc. Takes $1.24 Million Position in Viasat Inc. $VSAT

Legacy Capital Group California Inc. bought a new position in shares of Viasat Inc. (NASDAQ:VSAT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 42,353 shares of the communications equipment provider’s stock, valued at approximately $1,241,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in Viasat in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. raised its position in Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 886 shares during the period. Salomon & Ludwin LLC acquired a new position in Viasat during the third quarter worth $28,000. Activest Wealth Management purchased a new position in Viasat during the third quarter valued at $44,000. Finally, Delos Wealth Advisors LLC purchased a new position in Viasat during the second quarter valued at $45,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other Viasat news, CAO Camellia E. Fitzgerald sold 2,810 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total value of $134,880.00. Following the completion of the sale, the chief accounting officer owned 9,946 shares in the company, valued at approximately $477,408. This represents a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark D. Dankberg sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.09, for a total transaction of $7,018,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,534,993 shares in the company, valued at $53,862,904.37. This trade represents a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 354,290 shares of company stock worth $13,059,722. 2.20% of the stock is owned by insiders.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $43.79 on Friday. The firm has a 50-day simple moving average of $43.41 and a 200-day simple moving average of $36.97. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -16.91 and a beta of 1.44. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 52 week low of $7.36 and a 52 week high of $50.24.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VSAT. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Viasat in a research note on Wednesday, January 21st. William Blair reaffirmed an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Raymond James Financial upgraded Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price objective on the stock in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.86.

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.