Senator Investment Group LP Makes New Investment in Viasat Inc. $VSAT

Senator Investment Group LP acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,000 shares of the communications equipment provider’s stock, valued at approximately $16,166,000. Senator Investment Group LP owned 0.13% of Viasat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Valued Wealth Advisors LLC bought a new stake in Viasat in the first quarter valued at $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Viasat in the 2nd quarter worth about $30,000. Elevation Wealth Partners LLC boosted its stake in shares of Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Viasat during the fourth quarter valued at about $36,000. Finally, Los Angeles Capital Management LLC bought a new position in Viasat in the fourth quarter worth about $38,000. Institutional investors own 86.05% of the company’s stock.

Insider Activity at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the sale, the senior vice president directly owned 21,159 shares in the company, valued at approximately $1,596,658.14. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of the stock in a transaction 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 owned 11,000 shares of the company’s stock, valued at $931,590. This trade represents a 18.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 675,861 shares of company stock worth $47,705,388 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Viasat Price Performance

NASDAQ VSAT opened at $67.37 on Monday. The company has a 50-day moving average price of $75.32 and a 200-day moving average price of $64.40. Viasat Inc. has a 52 week low of $26.10 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 firm has a market capitalization of $9.28 billion, a P/E ratio of -280.71 and a beta of 1.72.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data 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). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Viasat Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on VSAT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price objective on shares of Viasat in a research note on Monday, June 1st. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. B. Riley Financial raised their price objective on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Morgan Stanley set a $95.00 target price on Viasat in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Viasat presently has an average rating of “Moderate Buy” and an average target price of $90.67.

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.