Point72 Asia Singapore Pte. Ltd. Purchases Shares of 4,768 Viasat, Inc. (NASDAQ:VSAT)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viasat, Inc. (NASDAQ:VSAT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,768 shares of the communications equipment provider’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VSAT. Vanguard Group Inc. boosted its position in shares of Viasat by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after purchasing an additional 348,166 shares during the period. Bank of New York Mellon Corp lifted its position in Viasat by 25.7% in the second 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 during the period. Cove Street Capital LLC boosted its holdings in Viasat by 17.7% in the 1st quarter. Cove Street Capital LLC now owns 766,753 shares of the communications equipment provider’s stock valued at $13,871,000 after purchasing an additional 115,224 shares in the last quarter. Norges Bank acquired a new position in Viasat during the 4th quarter worth approximately $17,511,000. Finally, American Century Companies Inc. raised its stake in shares of Viasat by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 460,602 shares of the communications equipment provider’s stock worth $5,850,000 after buying an additional 31,991 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VSAT shares. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Viasat in a research note on Monday, June 17th. Morgan Stanley decreased their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Bank of America reduced their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Barclays lowered their target price on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viasat has a consensus rating of “Hold” and an average target price of $22.33.

Viasat Price Performance

Viasat stock opened at $12.18 on Monday. The firm has a market capitalization of $1.53 billion, a PE ratio of -1.39 and a beta of 1.35. Viasat, Inc. has a 52 week low of $11.76 and a 52 week high of $29.11. The firm’s 50-day simple moving average is $16.48 and its 200 day simple moving average is $16.15. The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned ($0.83) earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. On average, equities research analysts predict that Viasat, Inc. will post -1.34 EPS for the current fiscal year.

Viasat 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.