Viasat (NASDAQ:VSAT) Shares Down 5.4% – Here’s Why

Viasat Inc. (NASDAQ:VSAT)’s stock price fell 5.4% on Thursday . The stock traded as low as $71.85 and last traded at $71.1920. 1,233,044 shares traded hands during trading, a decline of 28% from the average session volume of 1,712,586 shares. The stock had previously closed at $75.27.

Wall Street Analysts Forecast Growth

VSAT has been the topic of a number of research reports. Barclays upgraded shares of Viasat from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $49.00 in a report on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Raymond James Financial set a $74.00 price target on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. B. Riley Financial increased their price objective on Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, New Street Research assumed coverage on Viasat in a research note on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Viasat Price Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of -27.32 and a beta of 1.66. The stock’s fifty day moving average price is $57.74 and its 200-day moving average price is $46.11.

Insider Transactions at Viasat

In related news, SVP Robert James Blair sold 30,411 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the sale, the senior vice president directly owned 38,108 shares of the company’s stock, valued at approximately $1,792,600.32. This represents a 44.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.21, for a total value of $110,904.00. Following the sale, the senior vice president owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,071 shares of company stock valued at $1,804,437 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Viasat

A number of hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat during the first quarter worth approximately $25,000. Hantz Financial Services Inc. lifted its position in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat during the 4th quarter valued at $36,000. Los Angeles Capital Management LLC purchased a new position in shares of Viasat during the 4th quarter valued at $38,000. Finally, EFG International AG purchased a new stake in shares of Viasat during the fourth quarter worth $41,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Viasat

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.