Viasat (NASDAQ:VSAT) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Viasat (NASDAQ:VSAT) in a report released on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $12.00 price objective on the communications equipment provider’s stock.

VSAT has been the topic of a number of other reports. Barclays reduced their price target on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Viasat in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.43.

Viasat Stock Performance

NASDAQ:VSAT opened at $11.50 on Friday. The stock has a 50-day moving average price of $9.10 and a 200 day moving average price of $12.36. 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 has a 12-month low of $6.69 and a 12-month high of $26.70.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned ($6.16) earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts expect that Viasat will post -2.64 earnings per share for the current fiscal year.

Insider Activity at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV grew its position in Viasat by 63.7% in the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 1,021 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Viasat by 2.6% in the third quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider’s stock worth $760,000 after purchasing an additional 1,584 shares during the last quarter. GAMMA Investing LLC increased its stake in Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 1,772 shares during the period. Amalgamated Bank lifted its holdings in Viasat by 9.3% during the 3rd quarter. Amalgamated Bank now owns 26,172 shares of the communications equipment provider’s stock valued at $312,000 after buying an additional 2,218 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in Viasat in the 3rd quarter worth about $27,000. Institutional investors own 86.05% of the company’s stock.

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.