Bank of New York Mellon Corp Has $40.53 Million Position in ViaSat, Inc. (VSAT)
Bank of New York Mellon Corp boosted its holdings in ViaSat, Inc. (NASDAQ:VSAT) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 612,164 shares of the communications equipment provider’s stock after purchasing an additional 29,808 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of ViaSat worth $40,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in VSAT. BlackRock Inc. increased its stake in ViaSat by 24,650.6% in the first quarter. BlackRock Inc. now owns 5,393,642 shares of the communications equipment provider’s stock valued at $344,224,000 after purchasing an additional 5,371,850 shares during the last quarter. Clough Capital Partners L P increased its stake in ViaSat by 91.6% in the first quarter. Clough Capital Partners L P now owns 1,113,881 shares of the communications equipment provider’s stock valued at $72,483,000 after purchasing an additional 532,501 shares during the last quarter. Vanguard Group Inc. increased its stake in ViaSat by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,428,969 shares of the communications equipment provider’s stock valued at $282,657,000 after purchasing an additional 296,857 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in ViaSat by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 413,638 shares of the communications equipment provider’s stock valued at $26,399,000 after purchasing an additional 103,678 shares during the last quarter. Finally, State Street Corp increased its stake in ViaSat by 4.8% in the first quarter. State Street Corp now owns 1,673,931 shares of the communications equipment provider’s stock valued at $106,833,000 after purchasing an additional 76,185 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.
Several equities analysts recently commented on the company. Royal Bank Of Canada set a $50.00 target price on ViaSat and gave the company a “sell” rating in a research note on Tuesday, August 15th. 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. Zacks Investment Research lowered ViaSat from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet lowered ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. ViaSat currently has a consensus rating of “Hold” and an average target price of $76.45.
Shares of ViaSat, Inc. (NASDAQ VSAT) opened at 61.04 on Thursday. ViaSat, Inc. has a 52-week low of $57.75 and a 52-week high of $82.19. The stock has a market cap of $3.54 billion, a P/E ratio of 264.24 and a beta of 0.69. The firm’s 50-day moving average price is $63.38 and its 200-day moving average price is $65.08.
ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The firm had revenue of $380 million for the quarter, compared to analysts’ expectations of $384.29 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. ViaSat’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that ViaSat, Inc. will post $0.05 earnings per share for the current fiscal year.
In other ViaSat news, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total transaction of $45,346.00. Following the transaction, the director now directly owns 8,700 shares in the company, valued at $563,586. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bruce Leroy Dirks bought 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $59.78 per share, for a total transaction of $59,780.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 61,350 shares of company stock valued at $3,819,269. 7.70% of the stock is owned by corporate insiders.
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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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