Cibc World Markets Corp Makes New Investment in Viasat, Inc. (NASDAQ:VSAT)

Cibc World Markets Corp acquired a new position in shares of Viasat, Inc. (NASDAQ:VSAT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,578 shares of the communications equipment provider’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its stake in Viasat by 75.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 1,267 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Viasat in the third quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in Viasat in the third quarter valued at approximately $28,000. Venturi Wealth Management LLC acquired a new position in Viasat during the fourth quarter worth approximately $31,000. Finally, AlphaQuest LLC raised its stake in Viasat by 39.0% during the fourth quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other Viasat news, insider Cpp Investment Board Private H sold 3,750,000 shares of Viasat stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the sale, the insider now directly owns 4,795,334 shares in the company, valued at $43,158,006. The trade was a 43.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.

Viasat Stock Performance

Shares of NASDAQ:VSAT opened at $11.47 on Friday. The business’s 50-day simple moving average is $9.74 and its 200 day simple moving average is $9.99. The company has a market cap of $1.48 billion, a P/E ratio of -3.41 and a beta of 1.38. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. Viasat, Inc. has a one year low of $6.69 and a one year high of $26.70.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.37%. On average, sell-side analysts forecast that Viasat, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VSAT shares. StockNews.com raised shares of Viasat from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. William Blair reissued a “market perform” rating on shares of Viasat in a research report on Friday, February 7th. Barclays raised their price objective on Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Viasat in a report on Monday, February 10th. Finally, Morgan Stanley cut their price target on shares of Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.57.

About Viasat

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.