Voleon Capital Management LP Buys 21,853 Shares of Viasat Inc. $VSAT

Voleon Capital Management LP boosted its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 117.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,492 shares of the communications equipment provider’s stock after acquiring an additional 21,853 shares during the quarter. Voleon Capital Management LP’s holdings in Viasat were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Long Focus Capital Management LLC bought a new stake in Viasat in the first quarter valued at approximately $24,695,000. Nuveen LLC purchased a new position in shares of Viasat in the first quarter worth $20,593,000. Millennium Management LLC raised its holdings in Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after buying an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Viasat by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after buying an additional 1,128,338 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Viasat by 538.7% during the 4th quarter. Two Sigma Investments LP now owns 1,136,675 shares of the communications equipment provider’s stock valued at $9,673,000 after buying an additional 958,706 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VSAT. JPMorgan Chase & Co. upped their price objective on shares of Viasat from $10.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Viasat in a research report on Thursday, August 7th. Needham & Company LLC lifted their price objective on Viasat from $16.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Viasat in a report on Wednesday, August 27th. Finally, B. Riley cut their price target on shares of Viasat from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.13.

Viasat Stock Performance

Shares of Viasat stock opened at $30.87 on Wednesday. Viasat Inc. has a 12 month low of $6.69 and a 12 month high of $33.85. The firm has a market capitalization of $4.14 billion, a P/E ratio of -6.68 and a beta of 1.26. The company has a current ratio of 2.11, a quick ratio of 1.87 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $22.26 and a two-hundred day simple moving average of $14.28.

Viasat (NASDAQ:VSAT) last released its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.32. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.37%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

About Viasat

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.