FNY Investment Advisers LLC Increases Stock Position in Viasat, Inc. (NASDAQ:VSAT)

FNY Investment Advisers LLC increased its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 31.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,500 shares of the communications equipment provider’s stock after purchasing an additional 1,300 shares during the period. FNY Investment Advisers LLC’s holdings in Viasat were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Viasat by 47.9% during the 1st quarter. BlackRock Inc. now owns 10,292,413 shares of the communications equipment provider’s stock valued at $348,295,000 after buying an additional 3,331,879 shares during the last quarter. Norges Bank bought a new position in Viasat in the fourth quarter valued at about $23,769,000. Bank of America Corp DE lifted its holdings in Viasat by 565.2% in the fourth quarter. Bank of America Corp DE now owns 827,297 shares of the communications equipment provider’s stock valued at $26,184,000 after acquiring an additional 702,938 shares during the period. Vanguard Group Inc. grew its stake in shares of Viasat by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,111,765 shares of the communications equipment provider’s stock valued at $214,989,000 after purchasing an additional 452,198 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Viasat by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,040,208 shares of the communications equipment provider’s stock valued at $96,222,000 after purchasing an additional 375,428 shares during the last quarter. Institutional investors own 88.28% of the company’s stock.

Insider Transactions at Viasat

In related news, insider James Michael Dodd sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $31.31, for a total transaction of $156,550.00. Following the completion of the transaction, the insider now directly owns 17,856 shares of the company’s stock, valued at $559,071.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Viasat news, insider James Michael Dodd sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $31.31, for a total transaction of $156,550.00. Following the completion of the transaction, the insider now owns 17,856 shares in the company, valued at approximately $559,071.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Baldridge sold 3,492 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $27.55, for a total value of $96,204.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,064 shares of company stock valued at $271,334. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Bank of America boosted their price objective on shares of Viasat from $79.00 to $81.00 in a research report on Friday, May 26th. JPMorgan Chase & Co. assumed coverage on Viasat in a report on Wednesday, August 16th. They issued a “neutral” rating and a $35.00 target price on the stock. Needham & Company LLC cut their price target on Viasat from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 11th. Finally, TheStreet downgraded Viasat from a “c-” rating to a “d+” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Viasat currently has an average rating of “Hold” and an average price target of $48.20.

Viasat Price Performance

NASDAQ:VSAT traded down $0.24 on Friday, reaching $23.92. 4,679,319 shares of the company’s stock traded hands, compared to its average volume of 1,146,707. The firm has a market cap of $1.84 billion, a PE ratio of 1.77, a P/E/G ratio of 18.37 and a beta of 1.21. The company has a quick ratio of 2.10, a current ratio of 2.33 and a debt-to-equity ratio of 1.21. The stock has a 50-day simple moving average of $29.23 and a 200-day simple moving average of $34.79. Viasat, Inc. has a 12 month low of $22.76 and a 12 month high of $47.35.

Viasat (NASDAQ:VSAT) last issued its earnings results on Wednesday, August 9th. The communications equipment provider reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($1.05). Viasat had a net margin of 37.40% and a return on equity of 26.53%. The business had revenue of $779.79 million for the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts forecast that Viasat, Inc. will post 0.56 earnings per share for the current year.

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 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.