Viasat, Inc. (NASDAQ:VSAT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in shares of Viasat, Inc. (NASDAQ:VSAT) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,386 shares of the communications equipment provider’s stock after selling 3,682 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Viasat were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. increased its position in shares of Viasat by 63.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares during the last quarter. Millennium Management LLC increased its position in shares of Viasat by 1,145.1% during the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after acquiring an additional 750,904 shares during the last quarter. Waypoint Capital Advisors LLC raised its stake in shares of Viasat by 40.4% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 191,304 shares of the communications equipment provider’s stock valued at $2,284,000 after acquiring an additional 55,000 shares during the period. Seven Eight Capital LP purchased a new position in shares of Viasat during the 2nd quarter worth approximately $509,000. Finally, Vanguard Group Inc. increased its holdings in Viasat by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after purchasing an additional 348,166 shares during 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 $6.83 on Wednesday. The business has a 50-day simple moving average of $10.87 and a 200-day simple moving average of $14.43. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. Viasat, Inc. has a one year low of $6.76 and a one year high of $29.11. The company has a market cap of $876.90 million, a PE ratio of -2.19 and a beta of 1.37.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted ($6.16) earnings per share. On average, equities research analysts forecast that Viasat, Inc. will post -2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on VSAT shares. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Bank of America lowered their target price on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Finally, Needham & Company LLC lowered their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Viasat presently has a consensus rating of “Hold” and a consensus price target of $20.83.

Viasat Profile

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.