IMA Wealth Inc. Cuts Stake in Viasat, Inc. (NASDAQ:VSAT)

IMA Wealth Inc. lowered its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,919 shares of the communications equipment provider’s stock after selling 9,307 shares during the period. IMA Wealth Inc.’s holdings in Viasat were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Viasat by 40.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,897,337 shares of the communications equipment provider’s stock valued at $219,625,000 after acquiring an additional 3,417,316 shares in the last quarter. Invesco Ltd. boosted its holdings in Viasat by 68.0% in the 3rd quarter. Invesco Ltd. now owns 1,133,429 shares of the communications equipment provider’s stock valued at $20,923,000 after purchasing an additional 458,959 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Viasat by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,096 shares of the communications equipment provider’s stock valued at $14,807,000 after purchasing an additional 50,252 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Viasat by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 672,639 shares of the communications equipment provider’s stock valued at $12,417,000 after purchasing an additional 34,037 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Viasat by 37.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 390,310 shares of the communications equipment provider’s stock valued at $10,909,000 after purchasing an additional 107,006 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Trading Up 4.4 %

Shares of VSAT stock traded up $0.68 during trading hours on Friday, hitting $16.01. The company had a trading volume of 1,091,639 shares, compared to its average volume of 1,076,870. The company’s fifty day moving average is $17.64 and its 200 day moving average is $20.57. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.71 and a quick ratio of 2.46. Viasat, Inc. has a fifty-two week low of $15.02 and a fifty-two week high of $47.35. The stock has a market capitalization of $2.01 billion, a PE ratio of 2.11 and a beta of 1.33.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.85). Viasat had a return on equity of 4.52% and a net margin of 6.01%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Research analysts expect that Viasat, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Barclays decreased their target price on shares of Viasat from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.17.

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.