Waypoint Capital Advisors LLC Boosts Stock Position in Viasat, Inc. (NASDAQ:VSAT)

Waypoint Capital Advisors LLC lifted its position in shares of Viasat, Inc. (NASDAQ:VSAT) by 40.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,304 shares of the communications equipment provider’s stock after buying an additional 55,000 shares during the period. Waypoint Capital Advisors LLC owned about 0.15% of Viasat worth $2,284,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Viasat by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider’s stock valued at $480,000 after buying an additional 600 shares during the period. Daiwa Securities Group Inc. increased its stake in Viasat by 4.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider’s stock worth $209,000 after purchasing an additional 667 shares during the period. Entropy Technologies LP increased its stake in Viasat by 5.7% in the 1st quarter. Entropy Technologies LP now owns 13,137 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 707 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viasat by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 997 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Viasat by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 48,426 shares of the communications equipment provider’s stock valued at $876,000 after purchasing an additional 1,078 shares during the period. Institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. This 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 can be accessed through this link. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Needham & Company LLC dropped their target price 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. JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Finally, Bank of America dropped their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.83.

Viasat Stock Performance

Viasat stock opened at $11.12 on Friday. Viasat, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $29.11. The stock’s 50 day simple moving average is $14.14 and its two-hundred day simple moving average is $15.52. 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 stock has a market cap of $1.40 billion, a price-to-earnings ratio of -1.27 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.16. The company had revenue of $1.10 billion for 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%. The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.83) earnings per share. As a group, analysts expect that Viasat, Inc. will post -1.43 earnings per share for the current fiscal year.

About Viasat

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.