Texas Permanent School Fund Corp Has $715,000 Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Texas Permanent School Fund Corp trimmed its stake in Viasat, Inc. (NASDAQ:VSAT) by 14.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,279 shares of the communications equipment provider’s stock after selling 9,304 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Viasat were worth $715,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VSAT. Norges Bank acquired a new position in shares of Viasat during the fourth quarter valued at about $17,511,000. Vanguard Group Inc. grew its holdings in shares of Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after buying an additional 348,166 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of Viasat during the first quarter valued at about $5,936,000. Lee Danner & Bass Inc. acquired a new position in shares of Viasat during the second quarter valued at about $3,531,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Viasat by 25.7% during 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 buying an additional 162,804 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Viasat 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 value of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Viasat Stock Performance

Shares of VSAT stock opened at $12.77 on Friday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -1.45 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. 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 $16.85 and its two-hundred day simple moving average is $16.39.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on VSAT shares. Barclays reduced their price objective on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, June 5th. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Bank of America cut their price target on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, May 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Viasat in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Viasat presently has an average rating of “Hold” and a consensus target price 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.