Focus Partners Advisor Solutions LLC Invests $1.08 Million in Viasat Inc. $VSAT

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the second quarter, Holdings Channel reports. The institutional investor acquired 12,077 shares of the communications equipment provider’s stock, valued at approximately $1,085,000.

Several other hedge funds have also recently made changes to their positions in the company. State of Wyoming acquired a new stake in Viasat during the 2nd quarter worth about $486,000. Everett Harris & Co. CA purchased a new stake in Viasat during the 2nd quarter valued at about $5,423,000. Tema ETFs LLC increased its holdings in shares of Viasat by 229,857.1% in the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock valued at $86,740,000 after purchasing an additional 965,400 shares during the period. MRA Advisory Group acquired a new position in shares of Viasat in the second quarter valued at about $547,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Viasat in the second quarter worth about $372,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $72.23, for a total transaction of $288,920.00. Following the sale, the chief financial officer owned 30,239 shares of the company’s stock, valued at $2,184,162.97. This trade represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.69, for a total transaction of $211,725.00. Following the transaction, the director directly owned 11,000 shares of the company’s stock, valued at approximately $931,590. This trade represents a 18.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 671,861 shares of company stock worth $47,405,788. Corporate insiders own 1.40% of the company’s stock.

Viasat Stock Performance

Shares of VSAT stock opened at $82.87 on Monday. Viasat Inc. has a 52-week low of $25.50 and a 52-week high of $93.03. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The stock has a market cap of $11.42 billion, a PE ratio of -345.29 and a beta of 1.72. The business has a 50-day simple moving average of $73.64 and a 200-day simple moving average of $62.28.

Viasat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The firm’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned ($0.02) earnings per share. On average, equities analysts expect that Viasat Inc. will post -0.36 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on VSAT. B. Riley Financial lifted their target price on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. New Street Research began coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Zacks Research raised shares of Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Needham & Company LLC upped their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat 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.