UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 13,027 Shares of Viasat Inc. $VSAT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 5.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 264,158 shares of the communications equipment provider’s stock after buying an additional 13,027 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Viasat were worth $23,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VSAT. Van ECK Associates Corp increased its position in Viasat by 53.1% in the 2nd quarter. Van ECK Associates Corp now owns 2,243,040 shares of the communications equipment provider’s stock valued at $201,447,000 after acquiring an additional 777,761 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Viasat by 90.9% during the second quarter. Wellington Management Group LLP now owns 299,210 shares of the communications equipment provider’s stock valued at $26,872,000 after purchasing an additional 142,468 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Viasat during the second quarter valued at approximately $26,477,000. Caitlin John LLC acquired a new stake in shares of Viasat in the second quarter valued at approximately $1,260,000. Finally, Equitable Holdings Inc. acquired a new stake in shares of Viasat in the second quarter valued at approximately $4,650,000. Institutional investors own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VSAT. B. Riley Financial upped their price objective on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Morgan Stanley set a $95.00 target price on Viasat in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Wall Street Zen lowered Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Viasat Price Performance

Shares of VSAT stock opened at $75.32 on Friday. Viasat Inc. has a 52-week low of $26.10 and a 52-week high of $93.03. The stock has a market cap of $10.38 billion, a PE ratio of -313.83 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The firm’s 50 day moving average price is $76.09 and its two-hundred day moving average price is $65.11.

Insider Buying and Selling

In related news, CFO Garrett L. Chase sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $74.90, for a total value of $299,600.00. Following the completion of the sale, the chief financial officer owned 26,239 shares in the company, valued at approximately $1,965,301.10. This represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Theresa Wise sold 2,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the transaction, the director directly owned 11,000 shares in the company, valued at $759,000. The trade was a 18.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 646,791 shares of company stock worth $45,603,368 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

About Viasat

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.