Viasat (NASDAQ:VSAT) Hits New 1-Year Low – Here’s Why

Viasat, Inc. (NASDAQ:VSAT)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $10.39 and last traded at $10.43, with a volume of 128587 shares trading hands. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VSAT shares. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Bank of America dropped their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Needham & Company LLC lowered their price target on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Viasat presently has an average rating of “Hold” and a consensus target price of $20.83.

Viasat Stock Down 0.6 %

The company has a market cap of $1.31 billion, a P/E ratio of -1.25 and a beta of 1.34. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. The business’s fifty day moving average is $13.52 and its two-hundred day moving average is $15.35.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. Viasat’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.83) earnings per share. Equities analysts predict that Viasat, Inc. will post -1.5 EPS for the current year.

Insider Transactions at Viasat

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of large investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Viasat in the 2nd quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of 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. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Viasat during the second quarter worth about $61,000. Carolina Wealth Advisors LLC acquired a new position in shares of Viasat during the third quarter valued at about $63,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Viasat in the 2nd quarter valued at approximately $67,000. 86.05% of the stock is owned by institutional investors and hedge funds.

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.