State of Alaska Department of Revenue purchased a new position in ViaSat, Inc. (NASDAQ:VSAT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,245 shares of the communications equipment provider’s stock, valued at approximately $771,000.
A number of other institutional investors and hedge funds have also made changes to their positions in VSAT. Flagship Harbor Advisors LLC purchased a new position in ViaSat during the second quarter worth $29,000. Bank of Montreal Can increased its holdings in shares of ViaSat by 25.0% during the second quarter. Bank of Montreal Can now owns 915 shares of the communications equipment provider’s stock valued at $74,000 after acquiring an additional 183 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of ViaSat during the second quarter valued at about $80,000. Meeder Asset Management Inc. acquired a new position in shares of ViaSat during the second quarter valued at about $80,000. Finally, Pearl River Capital LLC acquired a new position in ViaSat in the 2nd quarter worth approximately $88,000. Institutional investors own 90.17% of the company’s stock.
In other news, Director Robert W. Johnson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $77.68, for a total transaction of $388,400.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $388,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harvey White sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $75.71, for a total value of $75,710.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,250 shares of company stock worth $3,448,538 in the last quarter. Insiders own 7.60% of the company’s stock.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. ViaSat had a negative net margin of 2.08% and a negative return on equity of 2.26%. The company had revenue of $537.00 million for the quarter, compared to the consensus estimate of $506.02 million. During the same quarter in the prior year, the company earned ($0.30) EPS. ViaSat’s quarterly revenue was up 22.4% on a year-over-year basis. Equities research analysts predict that ViaSat, Inc. will post -0.14 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the stock. ValuEngine downgraded shares of ViaSat from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a report on Monday, July 29th. BidaskClub downgraded shares of ViaSat from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. Finally, Raymond James upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $94.71.
ViaSat Company 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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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