Viasat Inc. $VSAT Stock Position Reduced by 13D Management LLC

13D Management LLC lessened its holdings in Viasat Inc. (NASDAQ:VSAT) by 24.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,750 shares of the communications equipment provider’s stock after selling 65,250 shares during the quarter. Viasat makes up about 8.3% of 13D Management LLC’s holdings, making the stock its 3rd largest position. 13D Management LLC’s holdings in Viasat were worth $6,952,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Mangrove Partners IM LLC purchased a new position in Viasat in the fourth quarter valued at $212,000. Verition Fund Management LLC increased its holdings in Viasat by 35.1% in the fourth quarter. Verition Fund Management LLC now owns 77,365 shares of the communications equipment provider’s stock valued at $2,666,000 after buying an additional 20,090 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Viasat by 7.6% in the fourth quarter. Panagora Asset Management Inc. now owns 485,223 shares of the communications equipment provider’s stock valued at $16,721,000 after buying an additional 34,404 shares during the last quarter. Mariner LLC increased its holdings in Viasat by 1.0% in the fourth quarter. Mariner LLC now owns 106,397 shares of the communications equipment provider’s stock valued at $3,668,000 after buying an additional 1,072 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Viasat by 406.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 547,275 shares of the communications equipment provider’s stock valued at $18,859,000 after buying an additional 439,199 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling at Viasat

In other news, Director Richard A. Baldridge sold 27,122 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the completion of the sale, the director owned 213,355 shares in the company, valued at approximately $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark D. Dankberg sold 400,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the sale, the chief executive officer owned 1,082,196 shares of the company’s stock, valued at $70,083,012.96. This trade represents a 26.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 434,275 shares of company stock valued at $28,359,079. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VSAT. New Street Research began coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective on the stock. B. Riley Financial raised their price objective on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.13.

Viasat Stock Performance

Shares of VSAT stock opened at $62.45 on Wednesday. The stock’s 50-day moving average is $66.89 and its two-hundred day moving average is $51.02. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of -215.34 and a beta of 1.71. Viasat Inc. has a 1 year low of $12.40 and a 1 year high of $89.79. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

Viasat (NASDAQ:VSAT) last announced its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted ($0.02) EPS. Viasat’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that Viasat Inc. will post -0.35 earnings per share for the current year.

Viasat Company Profile

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.