ViaSat, Inc. (VSAT) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC increased its holdings in ViaSat, Inc. (NASDAQ:VSAT) by 55.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,538 shares of the communications equipment provider’s stock after acquiring an additional 4,138 shares during the period. Cubist Systematic Strategies LLC’s holdings in ViaSat were worth $742,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of ViaSat by 9.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 131 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ViaSat by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 216 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of ViaSat during the 2nd quarter worth about $203,000. Shelton Capital Management purchased a new stake in shares of ViaSat during the 2nd quarter worth about $206,000. Finally, Balter Liquid Alternatives LLC purchased a new stake in shares of ViaSat during the 2nd quarter worth about $208,000. 99.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised ViaSat from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Morgan Stanley assumed coverage on ViaSat in a research note on Friday, December 15th. They set an “equal weight” rating and a $78.00 price target for the company. Royal Bank of Canada reaffirmed an “underperform” rating and set a $46.00 price target (down from $48.00) on shares of ViaSat in a research note on Tuesday, November 21st. Zacks Investment Research downgraded ViaSat from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Needham & Company LLC raised ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.75.
ViaSat, Inc. (NASDAQ:VSAT) opened at $73.16 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.26 and a debt-to-equity ratio of 0.37. ViaSat, Inc. has a one year low of $57.75 and a one year high of $74.99. The firm has a market capitalization of $4,234.43, a P/E ratio of -348.38 and a beta of 0.78.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The business had revenue of $393.10 million for the quarter, compared to the consensus estimate of $401.83 million. During the same period last year, the business earned $0.40 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. research analysts predict that ViaSat, Inc. will post -0.98 earnings per share for the current fiscal year.
In other ViaSat news, Director Harvey White sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $73.77, for a total value of $435,243.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $368,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark D. Dankberg sold 28,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $64.00, for a total value of $1,824,000.00. Following the completion of the sale, the chief executive officer now directly owns 28,500 shares in the company, valued at approximately $1,824,000. The disclosure for this sale can be found here. Insiders sold a total of 79,300 shares of company stock worth $5,306,803 over the last three months. 7.70% of the stock is owned by company insiders.
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ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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