Quantinno Capital Management LP Reduces Holdings in Viasat, Inc. (NASDAQ:VSAT)

Quantinno Capital Management LP reduced its stake in Viasat, Inc. (NASDAQ:VSAT) by 14.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,669 shares of the communications equipment provider’s stock after selling 3,044 shares during the period. Quantinno Capital Management LP’s holdings in Viasat were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in Viasat during the 3rd quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of Viasat in the 2nd quarter valued at $29,000. KBC Group NV raised its stake in Viasat by 63.7% in the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 1,021 shares during the last quarter. GAMMA Investing LLC raised its stake in Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viasat during the 2nd quarter valued at about $61,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VSAT has been the subject of several research analyst reports. Barclays reduced their price objective on Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC decreased 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. Bank of America cut 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. StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Finally, JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.33.

Viasat Stock Performance

Shares of NASDAQ VSAT opened at $9.43 on Tuesday. Viasat, Inc. has a 1 year low of $6.69 and a 1 year high of $29.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. The company’s fifty day moving average price is $9.59 and its 200 day moving average price is $13.36. The company has a market capitalization of $1.21 billion, a PE ratio of -3.02 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last posted its earnings results 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). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned ($6.16) earnings per share. The company’s revenue was down 8.4% compared to the same quarter last year. On average, research analysts predict that Viasat, Inc. will post -2.38 earnings per share for the current year.

Insider Buying and Selling at Viasat

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the transaction, the executive vice president now directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.

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 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.