Everett Harris & Co. CA Invests $1.11 Million in Viasat, Inc. (NASDAQ:VSAT)

Everett Harris & Co. CA bought a new stake in shares of Viasat, Inc. (NASDAQ:VSAT) in the fourth quarter, Holdings Channel reports. The fund bought 130,507 shares of the communications equipment provider’s stock, valued at approximately $1,111,000.

Several other hedge funds also recently added to or reduced their stakes in VSAT. KBC Group NV boosted its stake in shares of Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 1,021 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Viasat by 2.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider’s stock valued at $760,000 after purchasing an additional 1,584 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 1,772 shares during the period. Amalgamated Bank raised its position in shares of Viasat by 9.3% in the third quarter. Amalgamated Bank now owns 26,172 shares of the communications equipment provider’s stock worth $312,000 after acquiring an additional 2,218 shares during the period. Finally, National Bank of Canada FI acquired a new position in Viasat in the 3rd quarter worth about $27,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Stock Up 4.1 %

VSAT stock opened at $9.62 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.08 and a beta of 1.34. The firm has a 50-day moving average of $9.30 and a two-hundred day moving average of $12.17. Viasat, Inc. has a 12 month low of $6.69 and a 12 month high of $26.70. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted ($6.16) EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, analysts forecast that Viasat, Inc. will post -2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark J. Miller sold 3,564 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the sale, the executive vice president now directly owns 350,351 shares of the company’s stock, valued at approximately $3,226,732.71. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VSAT. Cantor Fitzgerald assumed coverage on Viasat in a research report on Friday, January 24th. They set a “neutral” rating and a $12.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Viasat in a research note on Tuesday, January 21st. Finally, Barclays decreased their price target on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.43.

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.