Meeder Asset Management Inc. acquired a new stake in ViaSat, Inc. (NASDAQ:VSAT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 992 shares of the communications equipment provider’s stock, valued at approximately $80,000.
Other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in ViaSat in the 2nd quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new position in shares of ViaSat during the 2nd quarter worth $80,000. Cerebellum GP LLC acquired a new position in shares of ViaSat during the 1st quarter worth $90,000. Advisory Services Network LLC increased its stake in shares of ViaSat by 1,626.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,726 shares of the communications equipment provider’s stock worth $139,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Coastal Investment Advisors Inc. increased its stake in shares of ViaSat by 170.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,300 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Several research analysts have recently commented on the stock. Raymond James upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Friday, August 9th. BidaskClub lowered shares of ViaSat from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Zacks Investment Research lowered shares of ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research note on Monday, July 29th. Bank of America restated a “buy” rating and set a $105.00 price target (up previously from $74.00) on shares of ViaSat in a research note on Monday, June 3rd. Finally, Needham & Company LLC increased their price target on shares of ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. ViaSat presently has an average rating of “Hold” and an average target price of $94.71.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. ViaSat had a negative net margin of 2.08% and a negative return on equity of 2.26%. The business had revenue of $537.00 million during the quarter, compared to the consensus estimate of $506.02 million. During the same period in the prior year, the firm earned ($0.30) EPS. ViaSat’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts forecast that ViaSat, Inc. will post -0.15 EPS for the current fiscal year.
In other news, Director John P. Stenbit sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $79.08, for a total transaction of $98,850.00. Following the completion of the transaction, the director now directly owns 2,850 shares of the company’s stock, valued at approximately $225,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toro Melinda Michele Del sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.14, for a total transaction of $563,375.00. Following the transaction, the insider now directly owns 9,306 shares of the company’s stock, valued at $838,842.84. The disclosure for this sale can be found here. Insiders have sold a total of 426,778 shares of company stock valued at $38,129,234 over the last ninety days. 7.60% of the stock is owned by insiders.
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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