Gabelli Funds LLC Has $1.44 Million Position in Viasat Inc. $VSAT

Gabelli Funds LLC increased its position in Viasat Inc. (NASDAQ:VSAT) by 254.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,800 shares of the communications equipment provider’s stock after buying an additional 30,000 shares during the quarter. Gabelli Funds LLC’s holdings in Viasat were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brightline Capital Management LLC increased its stake in shares of Viasat by 1.8% in the third quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after buying an additional 36,000 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Viasat during the 3rd quarter valued at approximately $4,230,000. Hudson Bay Capital Management LP acquired a new stake in Viasat during the 3rd quarter valued at approximately $7,325,000. Principal Financial Group Inc. increased its position in Viasat by 52.5% during the 3rd quarter. Principal Financial Group Inc. now owns 647,168 shares of the communications equipment provider’s stock valued at $18,962,000 after purchasing an additional 222,690 shares during the period. Finally, American Century Companies Inc. increased its position in Viasat by 38.5% during the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after purchasing an additional 1,033,194 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Price Performance

Shares of VSAT opened at $74.56 on Friday. Viasat Inc. has a 12-month low of $8.61 and a 12-month high of $77.76. The business’s fifty day moving average is $58.79 and its 200 day moving average is $46.52. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock has a market cap of $10.13 billion, a P/E ratio of -28.79 and a beta of 1.66.

Insider Buying and Selling

In other Viasat news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the transaction, the senior vice president directly owned 25,431 shares in the company, valued at approximately $1,175,166.51. This trade represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the transaction, the senior vice president owned 38,108 shares in the company, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,071 shares of company stock worth $1,804,437 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

VSAT has been the subject of a number of recent analyst reports. B. Riley Financial increased their target price on shares of Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. New Street Research initiated coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and increased their target price for the company from $36.00 to $48.00 in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Finally, Needham & Company LLC raised their price objective on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

About Viasat

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.