UBS Asset Management Americas Inc. Boosts Position in ViaSat, Inc. (NASDAQ:VSAT)
UBS Asset Management Americas Inc. raised its position in ViaSat, Inc. (NASDAQ:VSAT) by 25.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,696 shares of the communications equipment provider’s stock after buying an additional 5,878 shares during the period. UBS Asset Management Americas Inc.’s holdings in ViaSat were worth $1,831,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. World Asset Management Inc acquired a new stake in ViaSat during the first quarter worth approximately $206,000. Swiss National Bank raised its stake in ViaSat by 0.7% in the first quarter. Swiss National Bank now owns 88,024 shares of the communications equipment provider’s stock worth $5,618,000 after buying an additional 600 shares during the last quarter. LS Investment Advisors LLC raised its stake in ViaSat by 1.5% in the first quarter. LS Investment Advisors LLC now owns 3,585 shares of the communications equipment provider’s stock worth $229,000 after buying an additional 52 shares during the last quarter. Comerica Bank raised its stake in ViaSat by 7.3% in the first quarter. Comerica Bank now owns 41,281 shares of the communications equipment provider’s stock worth $2,694,000 after buying an additional 2,821 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ViaSat by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 582,356 shares of the communications equipment provider’s stock worth $37,166,000 after buying an additional 35,598 shares during the last quarter. 94.14% of the stock is owned by institutional investors and hedge funds.
Shares of ViaSat, Inc. (NASDAQ:VSAT) traded up 0.38% on Friday, reaching $66.16. The company had a trading volume of 226,741 shares. The company’s 50 day moving average price is $66.08 and its 200-day moving average price is $65.64. The stock has a market capitalization of $3.81 billion, a P/E ratio of 147.02 and a beta of 0.68. ViaSat, Inc. has a 1-year low of $61.85 and a 1-year high of $82.19.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. ViaSat had a net margin of 1.52% and a return on equity of 2.07%. The firm had revenue of $416.40 million during the quarter, compared to the consensus estimate of $400.90 million. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that ViaSat, Inc. will post $0.34 EPS for the current year.
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Several brokerages recently commented on VSAT. Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 price objective (down previously from $82.00) on shares of ViaSat in a report on Monday, July 10th. BidaskClub lowered ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. B. Riley set a $89.00 price target on ViaSat and gave the company a “buy” rating in a report on Wednesday, June 14th. Cowen and Company upgraded ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Finally, Wunderlich upgraded ViaSat from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.45.
In related news, Director Jeffrey M. Nash sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $71.76, for a total transaction of $358,800.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $358,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin J. Harkenrider sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the transaction, the insider now owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,400 shares of company stock valued at $1,771,886. Insiders own 7.70% of the company’s stock.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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