Florida Financial Advisors LLC Buys New Holdings in Viasat Inc. $VSAT

Florida Financial Advisors LLC bought a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,156 shares of the communications equipment provider’s stock, valued at approximately $694,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brightline Capital Management LLC increased its stake in Viasat by 1.8% in the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock worth $59,655,000 after acquiring an additional 36,000 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Viasat in the 4th quarter worth approximately $830,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Viasat in the 3rd quarter worth approximately $4,230,000. Hudson Bay Capital Management LP bought a new stake in Viasat in the 3rd quarter worth approximately $7,325,000. Finally, Principal Financial Group Inc. increased its stake in Viasat by 52.5% in the 3rd quarter. Principal Financial Group Inc. now owns 647,168 shares of the communications equipment provider’s stock worth $18,962,000 after acquiring an additional 222,690 shares during the last quarter. Institutional investors own 86.05% of the company’s stock.

Viasat Price Performance

VSAT opened at $72.86 on Tuesday. The business has a fifty day moving average of $62.60 and a 200 day moving average of $48.41. Viasat Inc. has a 52-week low of $8.61 and a 52-week high of $89.79. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The stock has a market cap of $9.90 billion, a P/E ratio of -251.24 and a beta of 1.70.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VSAT. New Street Research began coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays set a $49.00 target price on Viasat in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.13.

Insider Activity at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. The trade was a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the transaction, the senior vice president owned 38,108 shares of the company’s stock, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,071 shares of company stock worth $1,804,437 in the last quarter. 2.20% of the stock is owned by company insiders.

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.