ViaSat Target of Unusually Large Options Trading (NASDAQ:VSAT)

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ViaSat, Inc. (NASDAQ:VSAT) saw some unusual options trading activity on Wednesday. Traders bought 1,054 put options on the company. This is an increase of 1,269% compared to the typical daily volume of 77 put options.

VSAT stock opened at $80.81 on Thursday. The stock has a market capitalization of $4.96 billion, a P/E ratio of -71.51 and a beta of 0.98. ViaSat has a one year low of $55.93 and a one year high of $97.31. The business’s 50 day simple moving average is $88.91. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.83 and a quick ratio of 1.34.

ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.25) by $0.29. The firm had revenue of $557.20 million for the quarter, compared to the consensus estimate of $538.73 million. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) earnings per share. As a group, equities analysts forecast that ViaSat will post -0.1 EPS for the current fiscal year.

Several research analysts recently issued reports on VSAT shares. ValuEngine raised shares of ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 10th. Needham & Company LLC raised their price objective on shares of ViaSat from $78.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 24th. BidaskClub downgraded shares of ViaSat from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Bank of America reiterated a “buy” rating and issued a $105.00 target price (up previously from $74.00) on shares of ViaSat in a report on Monday, June 3rd. Finally, Zacks Investment Research upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $96.99.

In related news, CEO Mark D. Dankberg sold 149,022 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $90.75, for a total transaction of $13,523,746.50. Following the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $9,075,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey White sold 3,770 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.79, for a total transaction of $330,968.30. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $438,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,903 shares of company stock worth $41,735,777. Insiders own 8.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VSAT. Norges Bank purchased a new position in shares of ViaSat in the fourth quarter worth $30,846,000. Squarepoint Ops LLC increased its stake in shares of ViaSat by 103.9% in the fourth quarter. Squarepoint Ops LLC now owns 420,362 shares of the communications equipment provider’s stock worth $24,780,000 after buying an additional 214,227 shares during the period. BlackRock Inc. increased its stake in shares of ViaSat by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,612,721 shares of the communications equipment provider’s stock worth $389,817,000 after buying an additional 211,159 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of ViaSat by 55.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 527,042 shares of the communications equipment provider’s stock worth $31,069,000 after buying an additional 186,912 shares during the period. Finally, Odey Asset Management Group Ltd increased its stake in shares of ViaSat by 4.4% in the fourth quarter. Odey Asset Management Group Ltd now owns 3,153,470 shares of the communications equipment provider’s stock worth $185,897,000 after buying an additional 132,641 shares during the period. 96.49% of the stock is currently owned by institutional investors.

About ViaSat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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