Paloma Partners Management Co Buys New Shares in ViaSat, Inc. (NASDAQ:VSAT)

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Paloma Partners Management Co bought a new stake in shares of ViaSat, Inc. (NASDAQ:VSAT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 142,092 shares of the communications equipment provider’s stock, valued at approximately $11,484,000. Paloma Partners Management Co owned 0.23% of ViaSat as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its stake in ViaSat by 0.9% in the first quarter. BlackRock Inc. now owns 6,670,017 shares of the communications equipment provider’s stock worth $516,927,000 after acquiring an additional 57,296 shares during the period. Geode Capital Management LLC lifted its position in shares of ViaSat by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 649,189 shares of the communications equipment provider’s stock valued at $38,269,000 after buying an additional 66,470 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of ViaSat by 479.6% during the 2nd quarter. Renaissance Technologies LLC now owns 428,293 shares of the communications equipment provider’s stock valued at $34,615,000 after buying an additional 354,400 shares in the last quarter. Prudential Financial Inc. lifted its holdings in ViaSat by 42.8% in the 2nd quarter. Prudential Financial Inc. now owns 191,697 shares of the communications equipment provider’s stock worth $15,492,000 after purchasing an additional 57,413 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in ViaSat by 0.3% in the 2nd quarter. Invesco Ltd. now owns 152,031 shares of the communications equipment provider’s stock worth $12,288,000 after purchasing an additional 452 shares in the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.

In related news, Director John P. Stenbit sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $83.79, for a total transaction of $104,737.50. Following the sale, the director now owns 2,850 shares of the company’s stock, valued at $238,801.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director B Allen Lay sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $81.27, for a total value of $81,270.00. The disclosure for this sale can be found here. Insiders have sold 35,500 shares of company stock valued at $2,857,645 over the last 90 days. Insiders own 7.60% of the company’s stock.

Shares of VSAT traded down $0.95 on Thursday, reaching $78.01. The stock had a trading volume of 150,299 shares, compared to its average volume of 258,155. The firm has a 50-day moving average of $78.49 and a 200 day moving average of $82.87. The firm has a market capitalization of $4.90 billion, a PE ratio of -69.04 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.85. ViaSat, Inc. has a twelve month low of $55.93 and a twelve month high of $97.31.

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 analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $537.00 million for the quarter, compared to analyst estimates of $506.02 million. ViaSat had a negative return on equity of 2.26% and a negative net margin of 2.08%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) EPS. On average, sell-side analysts anticipate that ViaSat, Inc. will post -0.16 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. Raymond James raised ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research report on Friday, August 9th. Bank of America restated a “buy” rating and set a $105.00 price objective (up from $74.00) on shares of ViaSat in a research note on Monday, June 3rd. BidaskClub cut ViaSat from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Zacks Investment Research cut ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price target for the company. in a research note on Monday, July 29th. Finally, ValuEngine lowered ViaSat from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company 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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Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

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