Rhumbline Advisers Increases Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Rhumbline Advisers lifted its position in Viasat, Inc. (NASDAQ:VSAT) by 31.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 301,566 shares of the communications equipment provider’s stock after purchasing an additional 72,104 shares during the quarter. Rhumbline Advisers owned about 0.24% of Viasat worth $3,830,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. TFO Wealth Partners LLC lifted its position in Viasat by 11,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 1,655 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Viasat in the 2nd quarter valued at about $67,000. Tidemark LLC purchased a new stake in Viasat during the 4th quarter valued at about $72,000. nVerses Capital LLC bought a new position in Viasat during the 2nd quarter worth approximately $81,000. Finally, Headlands Technologies LLC purchased a new position in Viasat in the 1st quarter worth approximately $86,000. Institutional investors own 86.05% of the company’s stock.

Analyst Upgrades and Downgrades

VSAT has been the topic of several recent analyst reports. Bank of America raised their target price on Viasat from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Viasat from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, May 28th. Barclays dropped their price target on Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Viasat in a report on Monday, June 17th. Finally, StockNews.com downgraded Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.17.

Viasat Stock Up 6.1 %

Shares of Viasat stock opened at $13.57 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. Viasat, Inc. has a twelve month low of $11.76 and a twelve month high of $29.11. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -1.55 and a beta of 1.35. The company’s 50 day moving average is $17.05 and its 200 day moving average is $16.55.

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

Insider Activity

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction on 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 transaction, the insider now owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

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.