Comerica Bank Has $3.47 Million Stake in ViaSat, Inc. (VSAT)
Comerica Bank raised its stake in ViaSat, Inc. (NASDAQ:VSAT) by 27.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,615 shares of the communications equipment provider’s stock after buying an additional 11,334 shares during the period. Comerica Bank owned 0.09% of ViaSat worth $3,471,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Neuburgh Advisers LLC increased its position in ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 272 shares during the period. Quantbot Technologies LP acquired a new position in ViaSat during the first quarter valued at approximately $105,000. Glen Harbor Capital Management LLC increased its position in ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 374 shares during the period. Elkfork Partners LLC increased its position in ViaSat by 20.5% in the first quarter. Elkfork Partners LLC now owns 2,800 shares of the communications equipment provider’s stock valued at $179,000 after buying an additional 476 shares during the period. Finally, World Asset Management Inc acquired a new position in ViaSat during the first quarter valued at approximately $206,000. 99.42% of the stock is owned by institutional investors.
ViaSat, Inc. (NASDAQ:VSAT) opened at 63.61 on Friday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 275.37 and a beta of 0.68. The company’s 50 day moving average is $63.66 and its 200 day moving average is $65.22. ViaSat, Inc. has a 12-month low of $57.75 and a 12-month high of $82.19.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The business had revenue of $380 million for the quarter, compared to analysts’ expectations of $384.29 million. ViaSat had a net margin of 0.82% and a return on equity of 1.21%. ViaSat’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Analysts forecast that ViaSat, Inc. will post $0.05 earnings per share for the current fiscal year.
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Several research analysts recently commented on the stock. Royal Bank Of Canada set a $48.00 price objective on shares of ViaSat and gave the stock a “sell” rating in a report on Saturday, May 6th. B. Riley reiterated a “buy” rating and issued a $89.00 target price on shares of ViaSat in a research note on Sunday, August 13th. TheStreet cut shares of ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $80.00 target price (down from $82.00) on shares of ViaSat in a research note on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. ViaSat presently has a consensus rating of “Hold” and an average price target of $76.45.
In other news, insider Ken Allen Peterman sold 4,250 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $62.21, for a total value of $264,392.50. Following the sale, the insider now owns 15,415 shares of the company’s stock, valued at $958,967.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Richard A. Baldridge sold 35,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $59.92, for a total transaction of $2,097,200.00. Following the completion of the sale, the chief operating officer now directly owns 59,000 shares in the company, valued at approximately $3,535,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,650 shares of company stock worth $4,133,479. 7.70% of the stock is owned by insiders.
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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