Strs Ohio Makes New $703,000 Investment in Viasat Inc. $VSAT

Strs Ohio purchased a new position in shares of Viasat Inc. (NASDAQ:VSAT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,000 shares of the communications equipment provider’s stock, valued at approximately $703,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new stake in Viasat in the third quarter worth $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Viasat in the third quarter worth about $28,000. GAMMA Investing LLC lifted its position in shares of Viasat by 15.9% in the third quarter. GAMMA Investing LLC now owns 2,387 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 327 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Viasat during the 2nd quarter worth about $43,000. Finally, Delos Wealth Advisors LLC acquired a new position in shares of Viasat during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Insider Activity at Viasat

In other Viasat news, CAO Shawn Lynn Duffy sold 51,480 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total value of $1,872,842.40. Following the completion of the sale, the chief accounting officer owned 6,021 shares in the company, valued at approximately $219,043.98. This trade represents a 89.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin Edward Palmer sold 2,780 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $36.06, for a total value of $100,246.80. Following the sale, the insider owned 27,831 shares in the company, valued at approximately $1,003,585.86. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 356,529 shares of company stock worth $13,105,888 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on VSAT. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Viasat in a research report on Wednesday, January 21st. Morgan Stanley set a $51.00 price objective on shares of Viasat in a research note on Friday, January 16th. JPMorgan Chase & Co. raised shares of Viasat from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $50.00 in a report on Tuesday, November 11th. Finally, William Blair reiterated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viasat presently has an average rating of “Hold” and an average target price of $41.29.

Viasat Stock Down 2.8%

VSAT opened at $46.23 on Friday. The business has a 50 day moving average of $37.82 and a 200-day moving average of $32.32. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -11.56 and a beta of 1.39. The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 1.43. Viasat Inc. has a 1-year low of $7.36 and a 1-year high of $49.68.

Viasat (NASDAQ:VSAT) last released its earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.20. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Viasat had a negative net margin of 11.40% and a negative return on equity of 3.65%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. As a group, sell-side analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current year.

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.