26,951 Shares in Viasat, Inc. (NASDAQ:VSAT) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Viasat, Inc. (NASDAQ:VSAT) in the third quarter, HoldingsChannel reports. The institutional investor purchased 26,951 shares of the communications equipment provider’s stock, valued at approximately $322,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after buying an additional 750,904 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Viasat in the 2nd quarter valued at about $3,531,000. Point72 Asset Management L.P. raised its stake in shares of Viasat by 63.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock valued at $8,181,000 after purchasing an additional 250,389 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Viasat by 25.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock valued at $10,114,000 after purchasing an additional 162,804 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Viasat by 31.4% in the 2nd quarter. Rhumbline Advisers now owns 301,566 shares of the communications equipment provider’s stock valued at $3,830,000 after purchasing an additional 72,104 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $9.23 on Thursday. The firm’s 50 day moving average is $10.03 and its two-hundred day moving average is $13.82. Viasat, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11. The firm has a market capitalization of $1.19 billion, a P/E ratio of -3.12 and a beta of 1.34. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned ($6.16) earnings per share. Analysts anticipate that Viasat, Inc. will post -2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC cut their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Bank of America dropped their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Barclays dropped their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Finally, StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.33.

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.