Traders Buy Large Volume of Put Options on ViaSat (NASDAQ:VSAT)

ViaSat, Inc. (NASDAQ:VSAT) saw unusually large options trading activity on Wednesday. Stock investors acquired 1,054 put options on the company. This is an increase of 1,269% compared to the typical daily volume of 77 put options.

Several equities analysts have commented on VSAT shares. Needham & Company LLC raised their target price 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. Bank of America reissued a “buy” rating and set a $25.00 target price on shares of Infineon Technologies in a research note on Monday, June 3rd. B. Riley restated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James restated an “outperform” rating and set a $36.00 price objective on shares of Zymeworks in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. ViaSat currently has an average rating of “Buy” and a consensus target price of $96.99.

Shares of VSAT opened at $83.38 on Friday. The firm has a market capitalization of $5.05 billion, a PE ratio of -73.79 and a beta of 0.86. The stock has a 50-day moving average price of $86.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.34 and a current ratio of 1.83. ViaSat has a one year low of $55.93 and a one year high of $97.31.

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

In related news, Director B Allen Lay sold 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $90.96, for a total value of $90,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Dankberg sold 149,022 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $90.75, for a total transaction of $13,523,746.50. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $9,075,000. The disclosure for this sale can be found here. Insiders have sold 423,278 shares of company stock worth $38,019,971 over the last three months. 8.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of ViaSat by 0.9% in the first quarter. BlackRock Inc. now owns 6,670,017 shares of the communications equipment provider’s stock valued at $516,927,000 after purchasing an additional 57,296 shares during the period. Odey Asset Management Group Ltd boosted its stake in ViaSat by 4.4% during the fourth quarter. Odey Asset Management Group Ltd now owns 3,153,470 shares of the communications equipment provider’s stock worth $185,897,000 after buying an additional 132,641 shares in the last quarter. New South Capital Management Inc. boosted its stake in ViaSat by 3.1% during the fourth quarter. New South Capital Management Inc. now owns 1,752,563 shares of the communications equipment provider’s stock worth $103,313,000 after buying an additional 52,177 shares in the last quarter. Northern Trust Corp boosted its stake in ViaSat by 0.3% during the fourth quarter. Northern Trust Corp now owns 843,440 shares of the communications equipment provider’s stock worth $49,720,000 after buying an additional 2,608 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in ViaSat by 11.4% during the fourth quarter. Geode Capital Management LLC now owns 649,189 shares of the communications equipment provider’s stock worth $38,269,000 after buying an additional 66,470 shares in the last quarter. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

ViaSat Company 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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