Viasat (NASDAQ:VSAT) Sets New 12-Month High – Time to Buy?

Viasat Inc. (NASDAQ:VSAT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $75.18 and last traded at $74.0080, with a volume of 474778 shares. The stock had previously closed at $70.95.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VSAT. Needham & Company LLC raised their price target on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. B. Riley Financial increased their price objective on shares of Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. New Street Research assumed coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Viasat Trading Up 4.9%

The stock has a market capitalization of $10.11 billion, a PE ratio of -28.83 and a beta of 1.66. The company’s 50 day moving average price is $57.15 and its two-hundred day moving average price is $45.85. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90.

Insider Buying and Selling

In related news, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the transaction, the senior vice president directly owned 38,108 shares in the company, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. The trade was a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 38,071 shares of company stock worth $1,804,437. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Viasat

A number of institutional investors and hedge funds have recently bought and sold shares of VSAT. Valued Wealth Advisors LLC acquired a new position in Viasat during the first quarter worth about $25,000. Hantz Financial Services Inc. boosted its position in Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC acquired a new position in Viasat during the fourth quarter worth about $38,000. Finally, EFG International AG purchased a new position in Viasat during the fourth quarter worth about $41,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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.