ViaSat (VSAT) Downgraded to “Hold” at BidaskClub
BidaskClub lowered shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a research note issued to investors on Friday.
VSAT has been the subject of a number of other research reports. Zacks Investment Research upgraded ViaSat from a hold rating to a strong-buy rating and set a $75.00 target price for the company in a research note on Monday, November 13th. Morgan Stanley initiated coverage on ViaSat in a research note on Friday, December 15th. They set an equal weight rating and a $78.00 price objective for the company. Royal Bank of Canada lowered their price objective on ViaSat from $50.00 to $48.00 and set an underperform rating for the company in a research note on Thursday, October 5th. Jefferies Group set a $67.00 price objective on ViaSat and gave the company a hold rating in a research note on Sunday, September 10th. Finally, Needham & Company LLC upgraded ViaSat from a hold rating to a buy rating and set a $78.00 price objective for the company in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. ViaSat presently has an average rating of Hold and a consensus price target of $73.75.
ViaSat (NASDAQ VSAT) traded down $0.30 on Friday, hitting $74.33. The stock had a trading volume of 202,539 shares, compared to its average volume of 281,565. The stock has a market cap of $4,346.24, a PE ratio of -353.95 and a beta of 0.78. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37. ViaSat has a 52 week low of $57.75 and a 52 week high of $75.88.
In other news, Director John P. Stenbit sold 800 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total value of $59,888.00. Following the completion of the transaction, the director now owns 10,400 shares in the company, valued at $778,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $65.40, for a total value of $45,780.00. Following the completion of the transaction, the director now owns 10,300 shares of the company’s stock, valued at approximately $673,620. The disclosure for this sale can be found here. Insiders have sold 22,400 shares of company stock valued at $1,616,597 in the last quarter. 7.70% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of VSAT. PNC Financial Services Group Inc. raised its stake in shares of ViaSat by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 131 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ViaSat by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 216 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of ViaSat in the second quarter worth $203,000. Shelton Capital Management purchased a new position in shares of ViaSat in the second quarter worth $206,000. Finally, Riverhead Capital Management LLC raised its stake in shares of ViaSat by 75.7% in the second quarter. Riverhead Capital Management LLC now owns 3,162 shares of the communications equipment provider’s stock worth $209,000 after purchasing an additional 1,362 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.
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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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