Penserra Capital Management LLC Reduces Stock Holdings in Viasat, Inc. (NASDAQ:VSAT)

Penserra Capital Management LLC cut its position in shares of Viasat, Inc. (NASDAQ:VSAT) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,192 shares of the communications equipment provider’s stock after selling 2,769 shares during the period. Penserra Capital Management LLC owned approximately 0.08% of Viasat worth $1,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Viasat in the second quarter valued at approximately $29,000. KBC Group NV raised its position in Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 1,021 shares during the period. GAMMA Investing LLC raised its position in Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 1,772 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viasat during the 2nd quarter worth $61,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Viasat during the 3rd quarter worth about $63,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on VSAT shares. Bank of America reduced their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Needham & Company LLC lowered their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and cut their target price for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Finally, Barclays lowered their price target on Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.33.

Viasat Stock Performance

NASDAQ:VSAT opened at $8.69 on Wednesday. Viasat, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11. The company has a fifty day simple moving average of $10.43 and a two-hundred day simple moving average of $14.18. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.79 and a beta of 1.37.

Viasat (NASDAQ:VSAT) last released its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($6.16) earnings per share. As a group, equities analysts anticipate that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

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 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.