Edgestream Partners L.P. Invests $1.10 Million in Viasat Inc. $VSAT

Edgestream Partners L.P. bought a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,268 shares of the communications equipment provider’s stock, valued at approximately $1,099,000. Edgestream Partners L.P. owned approximately 0.06% of Viasat at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VSAT. Public Employees Retirement System of Ohio boosted its position in Viasat by 15.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,753 shares of the communications equipment provider’s stock valued at $99,000 after acquiring an additional 888 shares in the last quarter. Cambiar Investors LLC boosted its position in shares of Viasat by 8.5% during the second quarter. Cambiar Investors LLC now owns 12,115 shares of the communications equipment provider’s stock valued at $177,000 after purchasing an additional 944 shares in the last quarter. Legal & General Group Plc grew its stake in Viasat by 0.3% in the second quarter. Legal & General Group Plc now owns 431,088 shares of the communications equipment provider’s stock worth $6,294,000 after purchasing an additional 1,202 shares during the period. AE Wealth Management LLC raised its holdings in Viasat by 9.4% in the second quarter. AE Wealth Management LLC now owns 14,041 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 1,206 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in Viasat by 1.8% during the second quarter. New York State Teachers Retirement System now owns 78,623 shares of the communications equipment provider’s stock valued at $1,148,000 after buying an additional 1,400 shares during the period. 86.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VSAT has been the topic of a number of recent research reports. Raymond James Financial raised shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a research report on Monday, November 10th. Needham & Company LLC lifted their target price on shares of Viasat from $25.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. raised Viasat from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $50.00 in a research report on Tuesday, November 11th. Wall Street Zen raised Viasat from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Barclays reissued an “underweight” rating and issued a $23.00 target price (up from $10.00) on shares of Viasat in a report on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Viasat currently has an average rating of “Hold” and a consensus price target of $32.75.

Viasat Trading Down 0.5%

Shares of NASDAQ:VSAT opened at $34.96 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.08 and a quick ratio of 1.84. Viasat Inc. has a 1 year low of $7.36 and a 1 year high of $43.59. The company has a market cap of $4.73 billion, a P/E ratio of -8.74 and a beta of 1.37. The stock’s fifty day moving average price is $35.04 and its 200-day moving average price is $25.07.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Saturday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.20. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Viasat had a negative return on equity of 3.65% and a negative net margin of 11.40%.Viasat’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($0.23) EPS. Sell-side analysts expect that Viasat Inc. will post -0.54 earnings per share for the current year.

Insider Activity

In other Viasat news, SVP Robert James Blair sold 2,269 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $35.61, for a total transaction of $80,799.09. Following the completion of the sale, the senior vice president directly owned 68,519 shares in the company, valued at approximately $2,439,961.59. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Edward Palmer sold 2,780 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $36.06, for a total value of $100,246.80. Following the transaction, the insider directly owned 27,831 shares in the company, valued at $1,003,585.86. The trade was a 9.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 105,049 shares of company stock valued at $3,281,046 over the last three months. Insiders own 2.20% 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.