Ontario Teachers Pension Plan Board Sells 2.8 Million Shares of Viasat Inc. - What Does This Mean for Investors?
In a recent move, Ontario Teachers Pension Plan Board has offloaded a significant number of shares in Viasat Inc. The pension plan divested 2,811,442 shares of Viasat's common stock at $19.90 per share, totaling around $55.9 million. This sale has adjusted the pension plan's holding in the company to 8,545,334 shares.
Viasat Inc., a key player in the communication and satellite technology industry, is known for its radio and television broadcasting equipment. Large transactions like this one by institutional investors can provide insights into the market.
The company has also made recent announcements, including upgrades to its satellite services and partnerships with Airbus Defence and Space and Azercosmos. Analysts have differing views on Viasat's stock, with price target adjustments from BofA Securities, Deutsche Bank, and Needham.
From a financial perspective, Viasat operates with a significant debt burden but has a high shareholder yield and a low Price/Book multiple. The company's negative P/E ratio raises concerns about its earnings potential, but analysts predict profitability this year.
Viasat's stock has experienced high volatility, with a significant price decline recently. Despite revenue growth, the company faces challenges in converting this into profitability.
Investors should consider these factors and seek detailed analysis to make informed decisions about Viasat's future prospects.