Comerica Bank lifted its stake in shares of ViaSat, Inc. (NASDAQ:VSAT) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 32,875 shares of the communications equipment provider’s stock after acquiring an additional 237 shares during the quarter. Comerica Bank’s holdings in ViaSat were worth $2,303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of VSAT. Flagship Harbor Advisors LLC bought a new position in shares of ViaSat during the second quarter worth about $29,000. Atwater Malick LLC bought a new position in shares of ViaSat during the third quarter worth about $70,000. Bank of Montreal Can raised its position in shares of ViaSat by 25.0% during the second quarter. Bank of Montreal Can now owns 915 shares of the communications equipment provider’s stock worth $74,000 after acquiring an additional 183 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of ViaSat during the second quarter worth about $80,000. Finally, Meeder Asset Management Inc. bought a new position in shares of ViaSat during the second quarter worth about $80,000. Institutional investors own 89.83% of the company’s stock.
A number of equities analysts have recently issued reports on VSAT shares. Zacks Investment Research downgraded ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a research report on Monday, July 29th. ValuEngine downgraded ViaSat from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James upgraded ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Friday, August 9th. Needham & Company LLC lowered their price objective on ViaSat to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, BidaskClub downgraded ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. ViaSat currently has a consensus rating of “Hold” and a consensus price target of $93.29.
ViaSat (NASDAQ:VSAT) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.17. The business had revenue of $592.26 million during the quarter, compared to the consensus estimate of $568.66 million. ViaSat had a negative return on equity of 0.83% and a negative net margin of 0.72%. On average, research analysts predict that ViaSat, Inc. will post -0.13 earnings per share for the current year.
In other ViaSat news, Director John P. Stenbit sold 1,250 shares of ViaSat stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $77.90, for a total value of $97,375.00. Following the completion of the sale, the director now directly owns 2,850 shares in the company, valued at $222,015. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Melinda Michele Kimbro sold 6,250 shares of ViaSat stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $79.81, for a total value of $498,812.50. Following the completion of the sale, the insider now owns 9,306 shares of the company’s stock, valued at $742,711.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,500 shares of company stock valued at $1,837,198. 7.60% of the stock is currently owned by corporate 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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