Amalgamated Bank Buys 2,218 Shares of Viasat, Inc. (NASDAQ:VSAT)

Amalgamated Bank grew its stake in Viasat, Inc. (NASDAQ:VSAT) by 9.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,172 shares of the communications equipment provider’s stock after acquiring an additional 2,218 shares during the quarter. Amalgamated Bank’s holdings in Viasat were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Viasat in the 2nd quarter worth about $29,000. GAMMA Investing LLC raised its holdings in 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viasat in the second quarter worth approximately $61,000. Nisa Investment Advisors LLC purchased a new stake in shares of Viasat during the second quarter valued at approximately $67,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Viasat during the third quarter valued at approximately $63,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VSAT shares. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Needham & Company LLC lowered their price target on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Bank of America dropped their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.83.

Viasat Stock Performance

VSAT stock opened at $7.40 on Monday. The company has a market cap of $950.09 million, a P/E ratio of -2.37 and a beta of 1.37. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. Viasat, Inc. has a 1 year low of $7.30 and a 1 year high of $29.11. The stock’s fifty day moving average price is $11.20 and its 200-day moving average price is $14.57.

Viasat (NASDAQ:VSAT) last announced its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business posted ($6.16) earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts forecast that Viasat, Inc. will post -2.38 earnings per share for the current 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 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.