Corton Capital Inc. Raises Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Corton Capital Inc. lifted its holdings in Viasat, Inc. (NASDAQ:VSAT) by 83.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,382 shares of the communications equipment provider’s stock after acquiring an additional 28,870 shares during the quarter. Viasat accounts for about 0.3% of Corton Capital Inc.’s holdings, making the stock its 9th biggest holding. Corton Capital Inc.’s holdings in Viasat were worth $539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its holdings in Viasat by 75.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 1,267 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Viasat in the fourth quarter worth $31,000. Sterling Capital Management LLC raised its holdings in Viasat by 850.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 3,546 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Viasat during the 4th quarter valued at $35,000. Finally, AlphaQuest LLC grew its holdings in Viasat by 39.0% in the 4th quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 1,255 shares during the last quarter. Institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other news, insider Cpp Investment Board Private H sold 3,750,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $9.00, for a total value of $33,750,000.00. Following the completion of the transaction, the insider now owns 4,795,334 shares of the company’s stock, valued at $43,158,006. This represents a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Viasat Price Performance

Shares of VSAT opened at $9.20 on Tuesday. The firm has a fifty day simple moving average of $9.29 and a two-hundred day simple moving average of $9.29. The firm has a market cap of $1.19 billion, a PE ratio of -2.74 and a beta of 1.01. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35. Viasat, Inc. has a 1-year low of $6.69 and a 1-year high of $26.70.

Viasat (NASDAQ:VSAT) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.37%. On average, equities analysts anticipate that Viasat, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

VSAT has been the subject of several research analyst reports. Barclays increased their price objective on Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. StockNews.com raised Viasat from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Monday, March 24th. William Blair reaffirmed a “market perform” rating on shares of Viasat in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price target on shares of Viasat from $26.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.57.

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.