Wellington Shields Capital Management LLC Takes Position in ViaSat, Inc. (VSAT)

Share on StockTwits

Wellington Shields Capital Management LLC acquired a new position in shares of ViaSat, Inc. (NASDAQ:VSAT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,800 shares of the communications equipment provider’s stock, valued at approximately $499,000.

Other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC acquired a new stake in ViaSat in the second quarter valued at $133,000. LPL Financial LLC acquired a new stake in ViaSat in the first quarter valued at $235,000. Royal Bank of Canada grew its holdings in ViaSat by 109.7% in the first quarter. Royal Bank of Canada now owns 3,858 shares of the communications equipment provider’s stock valued at $252,000 after purchasing an additional 2,018 shares during the last quarter. Jane Street Group LLC acquired a new stake in ViaSat in the second quarter valued at $363,000. Finally, Natixis grew its holdings in ViaSat by 51.3% in the second quarter. Natixis now owns 5,715 shares of the communications equipment provider’s stock valued at $376,000 after purchasing an additional 1,937 shares during the last quarter.

ViaSat stock opened at $71.22 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.61. ViaSat, Inc. has a fifty-two week low of $59.16 and a fifty-two week high of $80.26.

ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, November 1st. The communications equipment provider reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.16. The business had revenue of $517.50 million for the quarter, compared to analyst estimates of $468.99 million. ViaSat had a negative return on equity of 4.95% and a negative net margin of 5.87%. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Analysts anticipate that ViaSat, Inc. will post -1.66 earnings per share for the current fiscal year.

Several research firms have weighed in on VSAT. ValuEngine raised ViaSat from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. BidaskClub raised ViaSat from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 3rd. TheStreet raised ViaSat from a “d+” rating to a “c-” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research lowered ViaSat from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $66.57.

In related news, CEO Mark D. Dankberg sold 29,740 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $69.70, for a total transaction of $2,072,878.00. Following the sale, the chief executive officer now owns 29,740 shares of the company’s stock, valued at $2,072,878. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark D. Dankberg sold 89,260 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $68.24, for a total value of $6,091,102.40. Following the sale, the chief executive officer now directly owns 89,260 shares in the company, valued at approximately $6,091,102.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,100 shares of company stock worth $10,899,005. Corporate insiders own 8.10% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Wellington Shields Capital Management LLC Takes Position in ViaSat, Inc. (VSAT)” was first published by Week Herald and is owned by of Week Herald. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://weekherald.com/2018/11/10/wellington-shields-capital-management-llc-takes-position-in-viasat-inc-vsat.html.

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 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.

Featured Article: Compound Interest

Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

Receive News & Ratings for ViaSat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViaSat and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply