Viasat (NASDAQ:VSAT) Hits New 1-Year Low – What’s Next?

Viasat, Inc. (NASDAQ:VSAT) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $10.39 and last traded at $10.43, with a volume of 128587 shares traded. The stock had previously closed at $10.60.

Analysts Set New Price Targets

Several analysts have commented on VSAT shares. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. Needham & Company LLC reduced their price target on shares of Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Bank of America dropped their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.83.

Viasat Stock Performance

The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average of $13.80 and a 200-day moving average of $15.43. The firm has a market capitalization of $1.27 billion, a P/E ratio of -1.21 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.83) EPS. On average, research analysts anticipate that Viasat, Inc. will post -1.44 EPS for the current year.

Insider Buying and Selling at Viasat

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the transaction, the insider now directly owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VSAT. Point72 Asset Management L.P. grew its position in shares of Viasat by 63.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares in the last quarter. Millennium Management LLC lifted its stake in Viasat by 1,145.1% during the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after purchasing an additional 750,904 shares during the last quarter. Waypoint Capital Advisors LLC boosted its holdings in shares of Viasat by 40.4% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 191,304 shares of the communications equipment provider’s stock valued at $2,284,000 after purchasing an additional 55,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Viasat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock valued at $340,549,000 after purchasing an additional 286,872 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Viasat during the 2nd quarter worth $509,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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.