Bank of America Corp DE Buys 818,301 Shares of Viasat, Inc. (NASDAQ:VSAT)

Bank of America Corp DE boosted its position in shares of Viasat, Inc. (NASDAQ:VSAT) by 149.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,365,194 shares of the communications equipment provider’s stock after buying an additional 818,301 shares during the quarter. Bank of America Corp DE owned approximately 1.06% of Viasat worth $11,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VSAT. Vanguard Group Inc. raised its holdings in shares of Viasat by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 13,773,860 shares of the communications equipment provider’s stock valued at $117,216,000 after acquiring an additional 194,006 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Viasat by 16.1% during the 4th quarter. Neuberger Berman Group LLC now owns 5,044,364 shares of the communications equipment provider’s stock valued at $42,912,000 after buying an additional 700,533 shares in the last quarter. Invesco Ltd. grew its position in shares of Viasat by 46.8% in the 4th quarter. Invesco Ltd. now owns 2,093,740 shares of the communications equipment provider’s stock worth $17,818,000 after buying an additional 667,564 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Viasat by 23.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,887,537 shares of the communications equipment provider’s stock worth $16,063,000 after acquiring an additional 364,072 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Viasat by 26.4% in the 4th quarter. American Century Companies Inc. now owns 1,229,116 shares of the communications equipment provider’s stock worth $10,460,000 after acquiring an additional 256,389 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Stock Performance

Shares of Viasat stock opened at $10.08 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -3.00 and a beta of 1.01. The firm’s 50-day moving average is $9.51 and its 200 day moving average is $9.30. Viasat, Inc. has a 1 year low of $6.69 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. William Blair restated a “market perform” rating on shares of Viasat in a report on Tuesday, April 15th. Needham & Company LLC cut their price target on Viasat from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Monday, March 24th. Barclays lifted their price objective on Viasat from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut their target price on Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.14.

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.