Mutual of America Capital Management LLC Trims Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Mutual of America Capital Management LLC lessened its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 1.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 376,394 shares of the communications equipment provider’s stock after selling 6,144 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Viasat were worth $4,780,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. TFO Wealth Partners LLC boosted its position in shares of Viasat by 11,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 1,655 shares during the period. Quest Partners LLC acquired a new position in Viasat during the second quarter worth $29,000. PNC Financial Services Group Inc. boosted its position 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 worth $112,000 after buying an additional 1,335 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Viasat in the first quarter valued at $86,000. Finally, Nisa Investment Advisors LLC acquired a new position in Viasat during the 2nd quarter worth about $67,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the completion of the sale, the insider now owns 8,545,334 shares in the company, valued at $170,052,146.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Viasat Trading Down 1.6 %

NASDAQ VSAT opened at $12.77 on Friday. Viasat, Inc. has a 52 week low of $11.76 and a 52 week high of $29.11. The firm has a 50 day moving average of $16.85 and a two-hundred day moving average of $16.39. 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 has a market capitalization of $1.61 billion, a PE ratio of -1.45 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted ($0.83) earnings per share. The company’s revenue was up 41.1% compared to the same quarter last year. As a group, research analysts expect that Viasat, Inc. will post -1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays dropped their target price on Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 5th. Bank of America cut their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Viasat in a research report on Monday, June 17th. JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Finally, StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Viasat presently has a consensus rating of “Hold” and a consensus target price of $22.33.

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.