Ladenburg Thalmann Financial Services Inc. cut its position in shares of ViaSat, Inc. (NASDAQ:VSAT) by 37.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,010 shares of the company’s stock after selling 1,190 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in ViaSat were worth $133,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of ViaSat by 41.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,405 shares of the company’s stock worth $105,000 after buying an additional 414 shares during the period. Elkfork Partners LLC acquired a new position in shares of ViaSat during the fourth quarter worth $154,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of ViaSat by 0.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,765 shares of the company’s stock worth $206,000 after buying an additional 25 shares during the period. World Asset Management Inc acquired a new position in shares of ViaSat during the third quarter worth $216,000. Finally, LS Investment Advisors LLC boosted its position in shares of ViaSat by 6.1% in the third quarter. LS Investment Advisors LLC now owns 2,889 shares of the company’s stock worth $216,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.
ViaSat, Inc. (NASDAQ:VSAT) opened at 63.64 on Friday. The company has a 50-day moving average of $66.36 and a 200-day moving average of $69.59. ViaSat, Inc. has a 52 week low of $63.00 and a 52 week high of $82.19. The stock has a market cap of $3.66 billion, a P/E ratio of 151.16 and a beta of 0.67.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, February 9th. The company reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm earned $380.60 million during the quarter, compared to the consensus estimate of $389.81 million. ViaSat had a net margin of 1.42% and a return on equity of 2.12%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, analysts predict that ViaSat, Inc. will post $1.13 EPS for the current fiscal year.
A number of brokerages recently weighed in on VSAT. Raymond James Financial, Inc. upgraded shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, February 7th. B. Riley restated a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a report on Monday, February 6th. Needham & Company LLC restated a “hold” rating on shares of ViaSat in a report on Thursday, February 16th. Zacks Investment Research downgraded shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Thursday, February 2nd. Finally, Royal Bank of Canada assumed coverage on shares of ViaSat in a research note on Wednesday, January 25th. They issued an “underperform” rating and a $42.00 price target for the company. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. ViaSat currently has a consensus rating of “Hold” and an average target price of $74.30.
In related news, VP Toro Melinda Michele Del sold 2,938 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $65.11, for a total transaction of $191,293.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.
ViaSat Company Profile
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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