Renaissance Technologies LLC Purchases 354,400 Shares of ViaSat, Inc. (NASDAQ:VSAT)
Renaissance Technologies LLC increased its position in ViaSat, Inc. (NASDAQ:VSAT) by 479.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 428,293 shares of the communications equipment provider’s stock after purchasing an additional 354,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.70% of ViaSat worth $34,615,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in ViaSat in the 2nd quarter valued at about $29,000. Bank of Montreal Can raised its holdings in ViaSat by 25.0% in the 2nd quarter. Bank of Montreal Can now owns 915 shares of the communications equipment provider’s stock valued at $74,000 after acquiring an additional 183 shares during the period. Meeder Asset Management Inc. bought a new position in ViaSat in the 2nd quarter valued at about $80,000. FNY Investment Advisers LLC bought a new position in ViaSat in the 2nd quarter valued at about $80,000. Finally, Pearl River Capital LLC bought a new position in ViaSat in the 2nd quarter valued at about $88,000. 90.17% of the stock is currently owned by institutional investors.
Several research firms have weighed in on VSAT. BidaskClub cut shares of ViaSat from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Raymond James raised shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Friday, August 9th. ValuEngine cut shares of ViaSat from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $105.00 target price (up from $74.00) on shares of ViaSat in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $94.71.
Shares of VSAT traded down $0.66 during mid-day trading on Friday, hitting $79.97. 3,134 shares of the company’s stock were exchanged, compared to its average volume of 309,153. ViaSat, Inc. has a 52 week low of $55.93 and a 52 week high of $97.31. The stock’s 50-day simple moving average is $79.01 and its 200-day simple moving average is $82.75. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of -71.23 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.85.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. ViaSat had a negative net margin of 2.08% and a negative return on equity of 2.26%. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $506.02 million. During the same quarter last year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts forecast that ViaSat, Inc. will post -0.15 earnings per share for the current fiscal year.
ViaSat Company 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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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