Penserra Capital Management LLC Sells 615,932 Shares of Viasat Inc. $VSAT

Penserra Capital Management LLC reduced its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 54.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,497 shares of the communications equipment provider’s stock after selling 615,932 shares during the period. Penserra Capital Management LLC owned 0.38% of Viasat worth $15,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OCO Capital Partners L.P. grew its stake in Viasat by 60.0% during the second quarter. OCO Capital Partners L.P. now owns 6,000,000 shares of the communications equipment provider’s stock worth $87,600,000 after purchasing an additional 2,250,000 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Viasat by 12,255.3% during the 3rd quarter. Hennessy Advisors Inc. now owns 1,404,800 shares of the communications equipment provider’s stock worth $41,161,000 after buying an additional 1,393,430 shares in the last quarter. American Century Companies Inc. grew its position in shares of Viasat by 96.8% during the 2nd quarter. American Century Companies Inc. now owns 2,680,387 shares of the communications equipment provider’s stock worth $39,134,000 after buying an additional 1,318,524 shares during the period. Millennium Management LLC increased its stake in shares of Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after acquiring an additional 1,206,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Viasat by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after acquiring an additional 1,128,338 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of research reports. William Blair restated an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Viasat in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised Viasat from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $50.00 in a research report on Tuesday, November 11th. Raymond James Financial raised Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.29.

Viasat Price Performance

VSAT stock opened at $39.68 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.84 and a current ratio of 2.08. The business has a 50-day simple moving average of $38.66 and a two-hundred day simple moving average of $33.22. The company has a market capitalization of $5.37 billion, a P/E ratio of -9.92 and a beta of 1.47. Viasat Inc. has a 52-week low of $7.36 and a 52-week high of $49.68.

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

Insider Activity

In other news, CAO Shawn Lynn Duffy sold 51,480 shares of the company’s stock in a transaction on 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 owned 6,021 shares in the company, valued at $219,043.98. This represents a 89.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total transaction of $134,880.00. Following the transaction, the chief accounting officer directly owned 9,946 shares in the company, valued at $477,408. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 359,339 shares of company stock worth $13,240,768. Company insiders own 2.20% of the company’s stock.

Viasat 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.