Hi Line Capital Management LLC Decreases Holdings in Viasat, Inc. (NASDAQ:VSAT)

Hi Line Capital Management LLC cut its holdings in shares of Viasat, Inc. (NASDAQ:VSAT) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,809 shares of the communications equipment provider’s stock after selling 65,330 shares during the quarter. Viasat accounts for approximately 1.5% of Hi Line Capital Management LLC’s holdings, making the stock its 19th biggest holding. Hi Line Capital Management LLC’s holdings in Viasat were worth $3,066,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after acquiring an additional 348,166 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Viasat by 1.1% in the second quarter. Disciplined Growth Investors Inc. MN now owns 3,449,281 shares of the communications equipment provider’s stock worth $43,806,000 after purchasing an additional 36,681 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Viasat by 1,145.1% in the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after purchasing an additional 750,904 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Viasat by 25.7% in the second quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock worth $10,114,000 after purchasing an additional 162,804 shares during the last quarter. Finally, Cove Street Capital LLC grew its holdings in shares of Viasat by 17.7% in the first quarter. Cove Street Capital LLC now owns 766,753 shares of the communications equipment provider’s stock worth $13,871,000 after purchasing an additional 115,224 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.90, for a total value of $55,947,695.80. Following the completion of the transaction, the insider now owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

Viasat Trading Down 6.1 %

VSAT opened at $9.60 on Friday. The stock has a 50-day moving average price of $12.79 and a 200-day moving average price of $15.11. The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. Viasat, Inc. has a 1 year low of $9.52 and a 1 year high of $29.11.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. Viasat’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.83) EPS. On average, equities research analysts anticipate that Viasat, Inc. will post -1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

VSAT has been the topic of several recent analyst reports. Needham & Company LLC cut their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. Bank of America cut their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.83.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.