Sanctuary Advisors LLC Purchases Shares of 72,798 Viasat Inc. $VSAT

Sanctuary Advisors LLC purchased a new stake in Viasat Inc. (NASDAQ:VSAT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 72,798 shares of the communications equipment provider’s stock, valued at approximately $6,538,000.

A number of other institutional investors have also made changes to their positions in the business. Valued Wealth Advisors LLC acquired a new position in shares of Viasat during the 1st quarter worth about $25,000. Elevation Wealth Partners LLC grew its holdings in Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 318 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat in the 4th quarter valued at approximately $36,000. Los Angeles Capital Management LLC bought a new position in Viasat in the 4th quarter worth approximately $38,000. Finally, EFG International AG bought a new position in Viasat in the 4th quarter worth approximately $41,000. 86.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on VSAT. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. New Street Research assumed coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 target price on the stock. Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Finally, Oppenheimer assumed coverage on shares of Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Insider Transactions at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the completion of the transaction, the senior vice president directly owned 21,159 shares of the company’s stock, valued at $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of Viasat stock in a transaction on Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the sale, the chief executive officer owned 1,082,196 shares in the company, valued at $70,083,012.96. This represents a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 675,861 shares of company stock valued at $47,705,388 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Viasat Trading Down 3.3%

Viasat stock opened at $72.28 on Tuesday. The business has a 50 day moving average price of $74.75 and a two-hundred day moving average price of $63.57. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of -301.17 and a beta of 1.72.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.Viasat’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. As a group, equities analysts forecast that Viasat Inc. will post -0.36 EPS for the current year.

Viasat 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.