Healthcare of Ontario Pension Plan Trust Fund Trims Stock Holdings in Viasat Inc. $VSAT

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Viasat Inc. (NASDAQ:VSAT) by 45.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,459 shares of the communications equipment provider’s stock after selling 247,816 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of Viasat worth $13,715,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VSAT. Valued Wealth Advisors LLC purchased a new stake in shares of Viasat in the 1st quarter valued at approximately $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Viasat during the 4th quarter worth approximately $36,000. Los Angeles Capital Management LLC purchased a new position in shares of Viasat during the 4th quarter worth approximately $38,000. EFG International AG acquired a new stake in Viasat in the 4th quarter valued at approximately $41,000. Finally, Danske Bank A S acquired a new stake in Viasat in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VSAT shares. Zacks Research cut Viasat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Barclays set a $49.00 price objective on Viasat in a research note on Friday, May 29th. Oppenheimer started coverage on Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective on the stock. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $97.00 target price on shares of Viasat in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Viasat Stock Performance

Shares of VSAT stock opened at $74.87 on Tuesday. The firm has a 50 day moving average of $72.11 and a two-hundred day moving average of $58.48. The stock has a market capitalization of $10.22 billion, a PE ratio of -258.17 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 52 week low of $14.36 and a 52 week high of $93.03.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. On average, research analysts predict that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Viasat

In related news, Director Richard A. Baldridge sold 27,122 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $1,945,732.28. Following the transaction, the director owned 213,355 shares in the company, valued at $15,306,087.70. The trade was a 11.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Theresa Wise sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at approximately $759,000. This represents a 18.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 438,803 shares of company stock valued at $28,655,600. 2.20% of the stock is owned by company insiders.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.