Viasat (NASDAQ:VSAT) stock is taking a beating on Tuesday after four major investors in the broadband and communications products and services company decided to dump some shares.
Filings with the Securities and Exchange Commission (SEC) reveal that roughly 11.25 million shares of VSAT stock will be sold by investors.
Let’s break that news down below!
VSAT Stock Sale Details
- Viasat investor CPP Investment Board is planning to sell 2,811,442 shares of VSAT stock.
- The Ontario Teachers’ Pension Plan Board is also looking to sell 2,811,442 shares of the stock.
- Triton LuxTopHolding SARL likewise intends to sell 2,811,442 shares of VSAT stock.
- WP Triton Co-Invest joins the list with its plans to sell 2,811,442 shares of the company’s stock.
News of this proposed stock sale by some of the biggest investors in VSAT has the shares seeing heavy trading today, with more than 6.7 million shares changing hands. This is already well above the company’s daily average trading volume of about 2.2 million shares.
VSAT stock is down 20.4% as of Tuesday afternoon. The stock is also down 38.6% since the start of the year and 45.1% over the prior 12 months.
Investors are going to want to stick around for even more of the most recent stock market stories on Tuesday! That includes everything happening with shares of Earlyworks (NASDAQ:ELWS), Organigram (NASDAQ:OGI) and Tencent Music Entertainment (NYSE:TME) stock today. You can catch up on all of these matters at the following links!
More Stock Market News for Tuesday
- ELWS Stock Alert: Why Are Shares of Earlyworks Up 153% Today?
- Why Is Organigram (OGI) Stock Up 25% Today?
- Tencent News: Why Is TME Stock Plunging 15% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
