Magnolia Capital Advisors LLC Takes $319,000 Position in Viasat, Inc. (NASDAQ:VSAT)

Magnolia Capital Advisors LLC purchased a new stake in shares of Viasat, Inc. (NASDAQ:VSAT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,083 shares of the communications equipment provider’s stock, valued at approximately $319,000.

Several other large investors have also recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Viasat during the second quarter valued at $214,000. The Manufacturers Life Insurance Company raised its stake in Viasat by 259.0% during the second quarter. The Manufacturers Life Insurance Company now owns 62,072 shares of the communications equipment provider’s stock worth $788,000 after buying an additional 44,782 shares during the last quarter. Millennium Management LLC raised its stake in Viasat by 1,145.1% during the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after buying an additional 750,904 shares during the last quarter. AQR Capital Management LLC raised its stake in Viasat by 30.5% during the second quarter. AQR Capital Management LLC now owns 236,694 shares of the communications equipment provider’s stock worth $2,959,000 after buying an additional 55,377 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Viasat during the second quarter worth $61,000. Institutional investors own 86.05% of the company’s stock.

Viasat Trading Down 2.0 %

NASDAQ:VSAT opened at $11.94 on Tuesday. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.36 and a beta of 1.35. The firm has a fifty day simple moving average of $16.42 and a two-hundred day simple moving average of $16.11. Viasat, Inc. has a 12 month low of $11.76 and a 12 month high of $29.11.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The business’s revenue was up 41.1% on a year-over-year basis. During the same period last year, the company earned ($0.83) earnings per share. Analysts expect that Viasat, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction dated 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 completion of the transaction, the insider now directly owns 8,545,334 shares in the company, valued at $170,052,146.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VSAT shares. Barclays lowered their target price on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Viasat in a research note on Monday, June 17th. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Morgan Stanley reduced their price target on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Viasat currently has a consensus rating of “Hold” and an average price target 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.