AlphaCrest Capital Management LLC Increases Stock Position in ViaSat, Inc. (NASDAQ:VSAT)

AlphaCrest Capital Management LLC increased its stake in shares of ViaSat, Inc. (NASDAQ:VSAT) by 321.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,337 shares of the communications equipment provider’s stock after purchasing an additional 10,937 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in ViaSat were worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of ViaSat by 26.0% during the third quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock worth $2,793,000 after acquiring an additional 9,018 shares during the period. Citigroup Inc. increased its stake in ViaSat by 7,886.9% in the 4th quarter. Citigroup Inc. now owns 87,057 shares of the communications equipment provider’s stock valued at $5,132,000 after buying an additional 85,967 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in ViaSat by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,827 shares of the communications equipment provider’s stock valued at $2,696,000 after buying an additional 1,906 shares during the last quarter. Nissay Asset Management Corp Japan ADV acquired a new stake in ViaSat in the 4th quarter valued at $512,000. Finally, New South Capital Management Inc. increased its stake in ViaSat by 3.1% in the 4th quarter. New South Capital Management Inc. now owns 1,752,563 shares of the communications equipment provider’s stock valued at $103,313,000 after buying an additional 52,177 shares during the last quarter. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

VSAT traded down $0.55 during trading on Friday, reaching $80.82. 899,142 shares of the company’s stock were exchanged, compared to its average volume of 537,502. ViaSat, Inc. has a one year low of $55.93 and a one year high of $97.31. The company has a quick ratio of 1.34, a current ratio of 1.83 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $4.94 billion, a PE ratio of -71.52 and a beta of 0.98. The stock has a fifty day moving average price of $88.69.

ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 23rd. The communications equipment provider reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.29. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The company had revenue of $557.20 million for the quarter, compared to analyst estimates of $538.73 million. During the same period in the prior year, the firm posted ($0.34) EPS. The company’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, equities research analysts anticipate that ViaSat, Inc. will post -0.1 earnings per share for the current year.

In related news, Director B Allen Lay sold 1,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $78.04, for a total transaction of $78,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ken Allen Peterman sold 47,625 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $78.09, for a total transaction of $3,719,036.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 470,903 shares of company stock worth $41,735,777. 8.10% of the stock is owned by insiders.

Several equities research analysts have issued reports on VSAT shares. Needham & Company LLC lifted their price target on shares of ViaSat from $78.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Monday, May 13th. B. Riley lifted their price objective on shares of ViaSat from $89.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 26th. BidaskClub downgraded shares of ViaSat from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $105.00 target price (up previously from $74.00) on shares of ViaSat in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $96.99.

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

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