Amalgamated Bank Buys 2,218 Shares of Viasat, Inc. (NASDAQ:VSAT)

Amalgamated Bank grew its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,172 shares of the communications equipment provider’s stock after buying an additional 2,218 shares during the period. Amalgamated Bank’s holdings in Viasat were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in Viasat by 1,145.1% during the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after acquiring an additional 750,904 shares during the period. Vanguard Group Inc. raised its position in shares of Viasat by 2.9% in the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after buying an additional 348,166 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Viasat during the second quarter valued at $3,531,000. Point72 Asset Management L.P. grew its position in Viasat by 63.6% during the second quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after buying an additional 250,389 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Viasat by 25.7% in the 2nd 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 acquiring an additional 162,804 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Price Performance

Shares of Viasat stock opened at $7.40 on Monday. The firm has a market cap of $950.09 million, a PE ratio of -2.37 and a beta of 1.37. The company’s fifty day simple moving average is $11.20 and its two-hundred day simple moving average is $14.57. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. Viasat, Inc. has a 12-month low of $7.30 and a 12-month high of $29.11.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted ($6.16) EPS. As a group, equities analysts expect that Viasat, Inc. will post -2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VSAT. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. Needham & Company LLC decreased their price objective on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Bank of America reduced their price target on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. 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 stock. According to MarketBeat.com, Viasat currently has a consensus rating of “Hold” and an average price target of $20.83.

About Viasat

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.