Viasat, Inc. (NASDAQ:VSAT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in Viasat, Inc. (NASDAQ:VSAT) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,386 shares of the communications equipment provider’s stock after selling 3,682 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Viasat were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VSAT. Quest Partners LLC purchased a new position in shares of Viasat in the 2nd quarter valued at $29,000. GAMMA Investing LLC boosted its stake in Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 1,772 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viasat during the second quarter worth about $61,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Viasat during the third quarter worth about $63,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Stock Performance

NASDAQ:VSAT opened at $6.83 on Wednesday. The firm has a market cap of $876.90 million, a price-to-earnings ratio of -2.19 and a beta of 1.37. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. Viasat, Inc. has a 1-year low of $6.76 and a 1-year high of $29.11. The firm’s fifty day moving average price is $10.87 and its 200 day moving average price is $14.43.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($6.16) earnings per share. On average, sell-side analysts expect that Viasat, Inc. will post -2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on VSAT. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. 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 report on Friday, September 20th. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Finally, Needham & Company LLC dropped their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Viasat currently has an average rating of “Hold” and a consensus price target of $20.83.

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.