Mark J. Miller Sells 3,564 Shares of Viasat, Inc. (NASDAQ:VSAT) Stock

Viasat, Inc. (NASDAQ:VSAT) EVP Mark J. Miller sold 3,564 shares of Viasat stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the transaction, the executive vice president now owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Viasat Price Performance

Viasat stock opened at $9.14 on Wednesday. The company has a market cap of $1.17 billion, a P/E ratio of -2.93 and a beta of 1.34. Viasat, Inc. has a one year low of $6.69 and a one year high of $29.11. The business has a fifty day moving average of $9.56 and a two-hundred day moving average of $13.30. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm posted ($6.16) EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VSAT has been the topic of several recent research reports. Bank of America dropped their price target on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Needham & Company LLC decreased their price target on Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Barclays dropped their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.33.

Hedge Funds Weigh In On Viasat

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in Viasat during the third quarter worth $27,000. Point72 Hong Kong Ltd acquired a new position in shares of Viasat during the 3rd quarter worth $28,000. Quest Partners LLC purchased a new stake in shares of Viasat in the 2nd quarter worth about $29,000. KBC Group NV grew its stake in Viasat by 63.7% in the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 1,021 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 1,772 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

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.