Federated Hermes Inc. Sells 32,761 Shares of Viasat Inc. $VSAT

Federated Hermes Inc. trimmed its position in Viasat Inc. (NASDAQ:VSAT) by 7.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 438,145 shares of the communications equipment provider’s stock after selling 32,761 shares during the period. Federated Hermes Inc.’s holdings in Viasat were worth $12,838,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in Viasat during the 3rd quarter valued at about $25,000. Salomon & Ludwin LLC bought a new position in Viasat in the third quarter valued at about $28,000. FNY Investment Advisers LLC bought a new position in Viasat in the second quarter worth approximately $43,000. Delos Wealth Advisors LLC bought a new position in shares of Viasat in the second quarter worth about $45,000. Finally, Bessemer Group Inc. raised its position in shares of Viasat by 331.3% during the 2nd quarter. Bessemer Group Inc. now owns 4,779 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 3,671 shares during the period. 86.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VSAT has been the subject of a number of research reports. Raymond James Financial upgraded Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. William Blair reissued an “outperform” rating on shares of Viasat in a research report on Tuesday, January 13th. Morgan Stanley set a $51.00 price objective on Viasat in a report on Friday, January 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Viasat in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.29.

Viasat Stock Down 2.3%

VSAT opened at $45.17 on Friday. The company has a fifty day moving average of $38.12 and a two-hundred day moving average of $32.65. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -11.29 and a beta of 1.39. Viasat Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $49.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.84 and a current ratio of 2.08.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Saturday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.20. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Viasat had a negative return on equity of 3.65% and a negative net margin of 11.40%.Viasat’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) EPS. On average, research analysts expect that Viasat Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at Viasat

In other news, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $36.38, for a total transaction of $1,872,842.40. Following the completion of the transaction, the chief accounting officer directly owned 6,021 shares of the company’s stock, valued at approximately $219,043.98. The trade was a 89.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total value of $134,880.00. Following the completion of the sale, the chief accounting officer owned 9,946 shares in the company, valued at approximately $477,408. This represents a 22.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 359,339 shares of company stock worth $13,240,768 in the last 90 days. Insiders own 2.20% of the company’s stock.

Viasat 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.