Inspire Investing LLC Sells 5,840 Shares of Viasat Inc. $VSAT

Inspire Investing LLC reduced its position in shares of Viasat Inc. (NASDAQ:VSAT) by 17.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,853 shares of the communications equipment provider’s stock after selling 5,840 shares during the quarter. Inspire Investing LLC’s holdings in Viasat were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VSAT. SG Americas Securities LLC bought a new stake in Viasat during the 1st quarter valued at about $281,000. Wealth Enhancement Advisory Services LLC bought a new stake in Viasat during the 1st quarter valued at about $159,000. Asset Management One Co. Ltd. increased its stake in Viasat by 74.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 17,845 shares of the communications equipment provider’s stock valued at $186,000 after purchasing an additional 7,607 shares in the last quarter. Hi Line Capital Management LLC increased its stake in Viasat by 26.3% during the 1st quarter. Hi Line Capital Management LLC now owns 267,197 shares of the communications equipment provider’s stock valued at $2,784,000 after purchasing an additional 55,623 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Viasat in the first quarter worth approximately $137,000. 86.05% of the stock is currently owned by institutional investors.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $36.92 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $37.14. The company has a market capitalization of $4.96 billion, a P/E ratio of -7.99 and a beta of 1.21. The firm’s 50 day simple moving average is $30.01 and its two-hundred day simple moving average is $18.03.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.32. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.37%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts expect that Viasat Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viasat news, Director Richard A. Baldridge sold 100,000 shares of Viasat stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $31.00, for a total transaction of $3,100,000.00. Following the transaction, the director owned 197,161 shares of the company’s stock, valued at $6,111,991. The trade was a 33.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VSAT has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Viasat in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays reiterated an “underweight” rating and issued a $23.00 price target (up from $10.00) on shares of Viasat in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Viasat in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Viasat presently has an average rating of “Hold” and a consensus target price of $23.29.

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.