Viasat Target of Unusually High Options Trading (NASDAQ:VSAT)

Viasat Inc. (NASDAQ:VSAT) saw unusually large options trading activity on Monday. Stock investors acquired 15,854 call options on the stock. This is an increase of approximately 154% compared to the average volume of 6,253 call options.

Viasat Stock Performance

Shares of Viasat stock traded up $4.96 during mid-day trading on Monday, hitting $81.89. 1,285,691 shares of the stock were exchanged, compared to its average volume of 2,101,191. Viasat has a 12 month low of $18.31 and a 12 month high of $93.03. The company has a 50-day simple moving average of $72.25 and a 200 day simple moving average of $59.47. The company has a market capitalization of $11.28 billion, a P/E ratio of -282.65 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned ($0.02) earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Viasat will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VSAT. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. B. Riley Financial increased their price target on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.11.

Insider Buying and Selling

In related news, Director Theresa Wise sold 2,500 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the sale, the director directly owned 11,000 shares in the company, valued at $759,000. This represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard A. Baldridge sold 27,122 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the completion of the transaction, the director owned 213,355 shares in the company, valued at $15,306,087.70. This trade represents a 11.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 442,803 shares of company stock valued at $28,944,520 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viasat

Hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC increased its holdings in Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 318 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Viasat in the first quarter valued at about $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Viasat in the fourth quarter valued at about $36,000. Los Angeles Capital Management LLC bought a new position in shares of Viasat during the 4th quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC bought a new position in shares of Viasat during the 1st quarter valued at approximately $51,000. 86.05% of the stock is currently owned by institutional investors.

About Viasat

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.