Amalgamated Bank Grows Position in Viasat Inc. $VSAT

Amalgamated Bank grew its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 48.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,122 shares of the communications equipment provider’s stock after purchasing an additional 12,467 shares during the quarter. Amalgamated Bank’s holdings in Viasat were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quent Capital LLC purchased a new stake in shares of Viasat during the 3rd quarter valued at approximately $25,000. Salomon & Ludwin LLC bought a new stake in Viasat during the 3rd quarter valued at $28,000. FNY Investment Advisers LLC purchased a new stake in shares of Viasat during the second quarter worth $43,000. Delos Wealth Advisors LLC bought a new position in shares of Viasat in the second quarter worth $45,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Viasat by 331.3% in the second quarter. Bessemer Group Inc. now owns 4,779 shares of the communications equipment provider’s stock worth $70,000 after acquiring an additional 3,671 shares during the period. Institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Barclays reissued an “underweight” rating and issued a $23.00 price target (up from $10.00) on shares of Viasat in a report on Wednesday, October 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday. Morgan Stanley set a $51.00 target price on shares of Viasat in a report on Friday, January 16th. Finally, Raymond James Financial raised shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viasat presently has a consensus rating of “Hold” and a consensus price target of $41.29.

Viasat Stock Down 2.1%

Shares of VSAT opened at $43.28 on Monday. Viasat Inc. has a 1 year low of $7.36 and a 1 year high of $46.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.08 and a quick ratio of 1.84. The stock has a 50 day simple moving average of $36.87 and a two-hundred day simple moving average of $31.71. The firm has a market cap of $5.85 billion, a P/E ratio of -10.82 and a beta of 1.39.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.20. Viasat had a negative net margin of 11.40% and a negative return on equity of 3.65%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted ($0.23) EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In other news, SVP Robert James Blair sold 2,269 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $35.61, for a total transaction of $80,799.09. Following the transaction, the senior vice president directly owned 68,519 shares of the company’s stock, valued at approximately $2,439,961.59. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $36.38, for a total value of $1,872,842.40. Following the completion of the sale, the chief accounting officer directly owned 6,021 shares of the company’s stock, valued at approximately $219,043.98. This trade represents a 89.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 356,529 shares of company stock valued at $13,105,888. Corporate insiders own 2.20% of the company’s stock.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.