Corient Private Wealth LP Makes New Investment in Viasat Inc. $VSAT

Corient Private Wealth LP acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 202,759 shares of the communications equipment provider’s stock, valued at approximately $18,210,000.

Several other institutional investors have also modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Viasat during the 2nd quarter valued at approximately $127,283,000. Magnolia Capital Advisors LLC bought a new stake in Viasat in the second quarter worth $234,000. Gallagher Fiduciary Advisors LLC bought a new stake in Viasat in the second quarter worth $448,000. Odyssean LLC purchased a new position in Viasat during the second quarter worth $1,266,000. Finally, Man Group plc bought a new position in Viasat during the second quarter valued at $12,909,000. 86.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VSAT has been the topic of several recent analyst reports. New Street Research assumed coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. B. Riley Financial increased their price objective on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Trading Down 7.4%

VSAT stock opened at $67.37 on Friday. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03. The firm’s 50-day moving average is $75.32 and its 200 day moving average is $64.28. The company has a market capitalization of $9.28 billion, a PE ratio of -280.71 and a beta of 1.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. Viasat’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. On average, research analysts anticipate that Viasat Inc. will post -0.36 EPS for the current year.

Insider Activity

In other Viasat news, Director Theresa Wise sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total transaction of $211,725.00. Following the transaction, the director directly owned 11,000 shares in the company, valued at $931,590. This trade represents a 18.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $75.46, for a total value of $181,104.00. Following the sale, the senior vice president directly owned 21,159 shares of the company’s stock, valued at approximately $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 675,861 shares of company stock valued at $47,705,388. Insiders own 1.40% of the company’s stock.

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.