Viasat (NASDAQ:VSAT) Stock Price Down 3.9% – Here’s What Happened

Viasat, Inc. (NASDAQ:VSAT)’s stock price was down 3.9% on Friday . The company traded as low as $11.11 and last traded at $11.11. Approximately 1,071,761 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 1,729,765 shares. The stock had previously closed at $11.56.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VSAT shares. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Bank of America lowered their price target on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Needham & Company LLC reduced their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.83.

Viasat Price Performance

The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $14.14 and its 200-day moving average is $15.52. The firm has a market cap of $1.40 billion, a P/E ratio of -1.27 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last released its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period last year, the business earned ($0.83) earnings per share. As a group, equities analysts anticipate that Viasat, Inc. will post -1.43 EPS for the current fiscal year.

Insider Activity

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares in the company, valued at $170,052,146.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new position in shares of Viasat during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 1,772 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Viasat by 49.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 1,335 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viasat in the 2nd quarter valued at $61,000. Finally, Headlands Technologies LLC bought a new stake in shares of Viasat in the 1st quarter worth about $86,000. Institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

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 entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.