Viasat (NASDAQ:VSAT) Shares Gap Up – Should You Buy?

Viasat Inc. (NASDAQ:VSAT)’s share price gapped up before the market opened on Friday. The stock had previously closed at $67.41, but opened at $70.78. Viasat shares last traded at $72.8220, with a volume of 376,390 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Oppenheimer assumed coverage on Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Needham & Company LLC upped their price target on Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Viasat has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The stock has a 50 day simple moving average of $74.89 and a two-hundred day simple moving average of $69.59. The company has a market cap of $10.19 billion, a PE ratio of -307.11 and a beta of 1.76.

Viasat (NASDAQ:VSAT) last announced its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts predict that Viasat Inc. will post -0.38 EPS for the current year.

Insider Activity

In related news, SVP Benjamin 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 transaction, the senior vice president owned 21,159 shares in the company, valued at $1,596,658.14. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Garrett Chase sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $76.91, for a total value of $307,640.00. Following the sale, the chief financial officer directly owned 51,534 shares of the company’s stock, valued at approximately $3,963,479.94. This represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 245,763 shares of company stock valued at $19,677,727. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Viasat

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Viasat by 31.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,976 shares of the communications equipment provider’s stock valued at $350,000 after buying an additional 1,178 shares during the period. Farther Finance Advisors LLC raised its position in Viasat by 133.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,747 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 1,572 shares during the last quarter. MRA Advisory Group lifted its stake in shares of Viasat by 163.4% in the 3rd quarter. MRA Advisory Group now owns 16,052 shares of the communications equipment provider’s stock worth $1,130,000 after acquiring an additional 9,959 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Viasat by 4.0% in the third quarter. Versant Capital Management Inc now owns 5,140 shares of the communications equipment provider’s stock valued at $362,000 after acquiring an additional 200 shares in the last quarter. Finally, Bullseye Investment Management LLC purchased a new stake in shares of Viasat in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.