Edgestream Partners L.P. Trims Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Edgestream Partners L.P. trimmed its position in Viasat, Inc. (NASDAQ:VSAT) by 45.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,574 shares of the communications equipment provider’s stock after selling 71,781 shares during the period. Edgestream Partners L.P. owned 0.07% of Viasat worth $1,112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Viasat by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock worth $340,549,000 after purchasing an additional 286,872 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Viasat by 11.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 18,145 shares of the communications equipment provider’s stock worth $328,000 after acquiring an additional 1,833 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Viasat by 12.2% in the first quarter. Illinois Municipal Retirement Fund now owns 44,886 shares of the communications equipment provider’s stock worth $812,000 after acquiring an additional 4,897 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Viasat by 23.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,622 shares of the communications equipment provider’s stock worth $1,277,000 after acquiring an additional 13,304 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Viasat in the second quarter worth $3,531,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.90, for a total value of $55,947,695.80. Following 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 filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Viasat Trading Down 1.6 %

Viasat stock opened at $12.77 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 2.78. Viasat, Inc. has a one year low of $11.76 and a one year high of $29.11. The stock has a market capitalization of $1.61 billion, a PE ratio of -1.45 and a beta of 1.35. The business’s fifty day moving average is $16.92 and its 200 day moving average is $16.45.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of Viasat in a research note on Monday, June 17th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $15.00 in a research note on Tuesday. Morgan Stanley cut their target price on Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Finally, Bank of America dropped their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.33.

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.