State Treasurer State of Michigan lowered its position in shares of ViaSat, Inc. (NASDAQ:VSAT) by 16.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,900 shares of the communications equipment provider’s stock after selling 3,400 shares during the quarter. State Treasurer State of Michigan’s holdings in ViaSat were worth $1,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Securian Asset Management Inc raised its position in shares of ViaSat by 1.7% during the 1st quarter. Securian Asset Management Inc now owns 6,926 shares of the communications equipment provider’s stock worth $537,000 after purchasing an additional 117 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of ViaSat by 1.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,016 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 177 shares during the period. Louisiana State Employees Retirement System raised its position in shares of ViaSat by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the communications equipment provider’s stock worth $1,178,000 after purchasing an additional 300 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of ViaSat during the 2nd quarter worth approximately $29,000. Finally, Strs Ohio raised its position in shares of ViaSat by 5.7% during the 1st quarter. Strs Ohio now owns 7,400 shares of the communications equipment provider’s stock worth $573,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 95.20% of the company’s stock.

Shares of VSAT stock opened at $80.55 on Wednesday. ViaSat, Inc. has a 12-month low of $55.93 and a 12-month high of $97.31. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -71.28 and a beta of 0.86. The business has a 50 day simple moving average of $81.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.83 and a quick ratio of 1.34.

ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. ViaSat had a negative return on equity of 2.28% and a negative net margin of 2.08%. The business had revenue of $537.00 million during the quarter, compared to analyst estimates of $506.02 million. During the same period in the prior year, the company posted ($0.30) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, sell-side analysts forecast that ViaSat, Inc. will post -0.24 EPS for the current fiscal year.

VSAT has been the topic of a number of research reports. Bank of America reiterated a “buy” rating and set a $105.00 price target (up from $74.00) on shares of ViaSat in a research report on Monday, June 3rd. Needham & Company LLC increased their price target on ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. ValuEngine cut ViaSat from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Raymond James upgraded ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Friday, August 9th. Finally, Zacks Investment Research cut ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price target on the stock. in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $94.71.

In related news, CEO Mark D. Dankberg sold 149,022 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $90.75, for a total value of $13,523,746.50. Following the completion of the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $9,075,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director B Allen Lay sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $81,340.00. The disclosure for this sale can be found here. Insiders sold a total of 442,028 shares of company stock valued at $39,546,239 over the last three months. Corporate insiders own 7.60% of the company’s stock.

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

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