D. E. Shaw & Co. Inc. grew its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 55.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,042 shares of the communications equipment provider’s stock after acquiring an additional 186,912 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in ViaSat were worth $31,069,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Enlightenment Research LLC acquired a new position in ViaSat during the fourth quarter worth about $29,000. IFP Advisors Inc raised its stake in ViaSat by 245.3% during the fourth quarter. IFP Advisors Inc now owns 1,478 shares of the communications equipment provider’s stock worth $86,000 after acquiring an additional 1,050 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in ViaSat by 313.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,379 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 1,803 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new position in ViaSat during the fourth quarter worth about $200,000. Finally, Virtu Financial LLC acquired a new position in shares of ViaSat in the fourth quarter valued at approximately $203,000.
VSAT has been the subject of several recent research reports. Barclays reaffirmed a “sell” rating and issued a $66.00 price objective on shares of ViaSat in a research note on Wednesday, February 13th. Morgan Stanley upped their price objective on ViaSat from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, November 30th. Raymond James upped their target price on ViaSat from $73.00 to $81.00 and gave the company a “positive” rating in a report on Friday, February 15th. BidaskClub upgraded ViaSat from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Finally, Zacks Investment Research upgraded ViaSat from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Saturday, January 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. ViaSat currently has a consensus rating of “Buy” and a consensus price target of $69.71.
In other ViaSat news, COO Richard A. Baldridge sold 84,401 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $72.74, for a total transaction of $6,139,328.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director B Allen Lay sold 2,000 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $71.50, for a total value of $143,000.00. The disclosure for this sale can be found here. Insiders sold 139,401 shares of company stock worth $10,214,969 over the last quarter. 8.10% of the stock is currently owned by company insiders.
Shares of VSAT stock opened at $77.50 on Wednesday. ViaSat, Inc. has a one year low of $55.93 and a one year high of $78.65. The company has a market capitalization of $4.73 billion, a P/E ratio of -90.12 and a beta of 0.90. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Thursday, February 7th. The communications equipment provider reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.24. ViaSat had a negative return on equity of 4.60% and a negative net margin of 4.62%. The business had revenue of $554.69 million for the quarter, compared to analysts’ expectations of $487.99 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue was up 45.3% on a year-over-year basis. As a group, sell-side analysts anticipate that ViaSat, Inc. will post -1.43 EPS for the current fiscal year.
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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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
Further Reading: Fundamental Analysis
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