Inspire Investing LLC Acquires 13,302 Shares of Viasat, Inc. (NASDAQ:VSAT)

Inspire Investing LLC raised its holdings in shares of Viasat, Inc. (NASDAQ:VSAT) by 38.9% during the fourth quarter, HoldingsChannel reports. The fund owned 47,484 shares of the communications equipment provider’s stock after purchasing an additional 13,302 shares during the quarter. Inspire Investing LLC’s holdings in Viasat were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI bought a new stake in shares of Viasat during the 3rd quarter valued at $27,000. Point72 Hong Kong Ltd purchased a new position in Viasat during the 3rd quarter valued at about $28,000. KBC Group NV increased its position in shares of Viasat by 63.7% during the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 1,021 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 1,772 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Viasat in the second quarter worth about $61,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Price Performance

VSAT stock opened at $11.50 on Friday. The firm has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $12.35. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market cap of $1.48 billion, a PE ratio of -3.69 and a beta of 1.34. Viasat, Inc. has a one year low of $6.69 and a one year high of $26.70.

Viasat (NASDAQ:VSAT) last released its earnings results 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). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned ($6.16) EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Viasat, Inc. will post -2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VSAT. Barclays reduced their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Viasat in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald started coverage on Viasat in a research report on Friday. They issued a “neutral” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.43.

Insider Activity

In other news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the completion of the sale, the executive vice president now owns 350,351 shares of the company’s stock, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

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.