Penserra Capital Management LLC Decreases Position in Viasat, Inc. (NASDAQ:VSAT)

Penserra Capital Management LLC reduced its stake in Viasat, Inc. (NASDAQ:VSAT) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,192 shares of the communications equipment provider’s stock after selling 2,769 shares during the period. Penserra Capital Management LLC’s holdings in Viasat were worth $1,244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VSAT. Vanguard Group Inc. grew its position in shares of Viasat by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after buying an additional 348,166 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Viasat by 23.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,622 shares of the communications equipment provider’s stock worth $1,277,000 after purchasing an additional 13,304 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Viasat by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,183 shares of the communications equipment provider’s stock worth $1,089,000 after purchasing an additional 3,712 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at about $293,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Stock Performance

NASDAQ:VSAT opened at $8.69 on Wednesday. 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 firm has a market cap of $1.12 billion, a price-to-earnings ratio of -2.79 and a beta of 1.37. The firm’s fifty day moving average price is $10.43 and its 200 day moving average price is $14.18. Viasat, Inc. has a 1-year low of $6.69 and a 1-year high of $29.11.

Viasat (NASDAQ:VSAT) last issued its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm earned ($6.16) EPS. The firm’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Viasat, Inc. will post -2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VSAT. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Bank of America reduced their price target on shares of Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Barclays lowered their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reduced their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.33.

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.