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.
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.
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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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