Bridgeway Capital Management LLC Has $26.77 Million Holdings in Viasat Inc. $VSAT

Bridgeway Capital Management LLC lessened its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 776,710 shares of the communications equipment provider’s stock after selling 10,720 shares during the period. Viasat comprises 0.6% of Bridgeway Capital Management LLC’s holdings, making the stock its 18th largest holding. Bridgeway Capital Management LLC owned 0.57% of Viasat worth $26,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Aristeia Capital L.L.C. acquired a new position in shares of Viasat during the 4th quarter worth approximately $579,000. Cetera Investment Advisers lifted its holdings in shares of Viasat by 11.6% during the 4th quarter. Cetera Investment Advisers now owns 8,388 shares of the communications equipment provider’s stock worth $289,000 after acquiring an additional 872 shares during the period. EFG International AG bought a new stake in shares of Viasat during the 4th quarter worth approximately $41,000. Defiance ETFs LLC bought a new stake in shares of Viasat during the 4th quarter worth approximately $11,962,000. Finally, Equitable Holdings Inc. lifted its holdings in shares of Viasat by 2.5% during the 4th quarter. Equitable Holdings Inc. now owns 27,701 shares of the communications equipment provider’s stock worth $955,000 after acquiring an additional 686 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $64.55 on Thursday. The company has a market cap of $8.82 billion, a price-to-earnings ratio of -222.59 and a beta of 1.71. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The firm has a 50 day simple moving average of $67.14 and a 200 day simple moving average of $51.23. Viasat Inc. has a one year low of $12.40 and a one year high of $89.79.

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

Insiders Place Their Bets

In related news, Director John P. Stenbit sold 653 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $46,846.22. Following the completion of the transaction, the director owned 29,597 shares of the company’s stock, valued at $2,123,288.78. This represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Baldridge sold 27,122 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 213,355 shares of the company’s stock, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 434,275 shares of company stock worth $28,359,079 over the last 90 days. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. New Street Research assumed coverage on shares of Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. B. Riley Financial upped their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Needham & Company LLC upped their price target on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Viasat presently has a consensus rating of “Moderate Buy” and an average price target of $77.13.

Viasat 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.