Seven Eight Capital LP Takes Position in Viasat, Inc. (NASDAQ:VSAT)

Seven Eight Capital LP bought a new position in Viasat, Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,079 shares of the communications equipment provider’s stock, valued at approximately $509,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VSAT. Quest Partners LLC bought a new position in shares of Viasat in the second quarter valued at $29,000. TFO Wealth Partners LLC grew its holdings in shares of 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 acquiring an additional 1,655 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Viasat during the second quarter worth $67,000. nVerses Capital LLC purchased a new stake in shares of Viasat during the second quarter valued at $81,000. Finally, Headlands Technologies LLC acquired a new position in shares of Viasat in the 1st quarter valued at $86,000. 86.05% of the stock is currently owned by institutional investors.

Insider Transactions at Viasat

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 value of $55,947,695.80. Following the completion of the sale, the insider now owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Viasat Trading Down 1.6 %

NASDAQ VSAT opened at $12.77 on Monday. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. Viasat, Inc. has a 1-year low of $11.76 and a 1-year high of $29.11. The firm’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $16.38. The company has a market capitalization of $1.61 billion, a PE ratio of -1.45 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results 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. The business 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%. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.83) EPS. As a group, sell-side analysts anticipate that Viasat, Inc. will post -1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VSAT. 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 research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Viasat in a research note on Monday, June 17th. Morgan Stanley cut their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Bank of America decreased their target price on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research report on Friday. Finally, StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.33.

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.