Bayforest Capital Ltd Sells 806 Shares of Viasat Inc. $VSAT

Bayforest Capital Ltd lowered its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 2.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 35,442 shares of the communications equipment provider’s stock after selling 806 shares during the quarter. Bayforest Capital Ltd’s holdings in Viasat were worth $517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSAT. SG Americas Securities LLC bought a new position in Viasat during the first quarter worth about $281,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Viasat during the 1st quarter valued at about $159,000. Asset Management One Co. Ltd. lifted its holdings in shares of 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 lifted its holdings in shares of 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 position in shares of Viasat during the 1st quarter valued at about $137,000. Institutional investors own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSAT. Barclays reiterated an “underweight” rating and set a $23.00 price objective (up previously from $10.00) on shares of Viasat in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Viasat in a report on Thursday, August 7th. William Blair reiterated an “outperform” rating on shares of Viasat in a report on Wednesday, August 27th. JPMorgan Chase & Co. lifted their price objective on Viasat from $10.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.29.

Insider Buying and Selling at Viasat

In other Viasat news, Director Richard A. Baldridge sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by company insiders.

Viasat Stock Up 6.4%

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

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

Viasat 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.