Bayesian Capital Management LP Cuts Stock Position in Viasat, Inc. (NASDAQ:VSAT)

Bayesian Capital Management LP lessened its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,834 shares of the communications equipment provider’s stock after selling 1,300 shares during the period. Bayesian Capital Management LP’s holdings in Viasat were worth $612,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VSAT. Norges Bank purchased a new stake in Viasat during the 4th quarter worth approximately $17,511,000. Vanguard Group Inc. grew its position in Viasat by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after purchasing an additional 348,166 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Viasat during the 1st quarter worth approximately $5,936,000. Edgestream Partners L.P. grew its position in Viasat by 1,752.3% during the 1st quarter. Edgestream Partners L.P. now owns 159,355 shares of the communications equipment provider’s stock worth $2,883,000 after purchasing an additional 150,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Viasat by 14.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,998 shares of the communications equipment provider’s stock worth $25,742,000 after purchasing an additional 118,902 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Stock Performance

Shares of VSAT traded up $0.24 during trading hours on Tuesday, hitting $19.77. The stock had a trading volume of 1,157,585 shares, compared to its average volume of 1,507,414. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.44 and a current ratio of 2.68. The firm has a 50-day moving average price of $15.23 and a 200 day moving average price of $17.62. Viasat, Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $31.83. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -2.22 and a beta of 1.37.

Viasat (NASDAQ:VSAT) last posted its earnings results on Tuesday, May 21st. The communications equipment provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.12). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative net margin of 24.95% and a negative return on equity of 19.76%. As a group, research analysts anticipate that Viasat, Inc. will post -1.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on VSAT. Bank of America lifted their price objective on shares of Viasat from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Viasat in a research note on Monday, June 17th. Barclays decreased their price objective on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Morgan Stanley decreased their price objective on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Viasat from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Viasat presently has a consensus rating of “Hold” and an average price target of $25.17.

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.