Viasat, Inc. (NASDAQ:VSAT) Shares Sold by Hi Line Capital Management LLC

Hi Line Capital Management LLC trimmed its holdings in Viasat, Inc. (NASDAQ:VSAT) by 17.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 211,574 shares of the communications equipment provider’s stock after selling 45,235 shares during the quarter. Hi Line Capital Management LLC’s holdings in Viasat were worth $1,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Disciplined Growth Investors Inc. MN grew its holdings in shares of Viasat by 28.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider’s stock valued at $52,766,000 after purchasing an additional 969,942 shares during the period. South Dakota Investment Council grew its holdings in shares of Viasat by 98.5% in the fourth quarter. South Dakota Investment Council now owns 675,378 shares of the communications equipment provider’s stock valued at $5,747,000 after purchasing an additional 335,082 shares during the period. State Street Corp grew its holdings in shares of Viasat by 6.6% in the third quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider’s stock valued at $53,083,000 after purchasing an additional 276,376 shares during the period. Empowered Funds LLC purchased a new stake in shares of Viasat in the fourth quarter valued at about $1,801,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Viasat in the fourth quarter valued at about $1,787,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Stock Down 3.9 %

Shares of NASDAQ:VSAT opened at $9.00 on Monday. The firm’s 50 day moving average price is $9.34 and its 200 day moving average price is $11.21. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -2.68 and a beta of 1.35. Viasat, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $26.70. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 1.35.

Viasat (NASDAQ:VSAT) last issued its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.37%. As a group, equities research analysts predict that Viasat, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Cantor Fitzgerald assumed coverage on shares of Viasat in a research note on Friday, January 24th. They set a “neutral” rating and a $12.00 target price for the company. William Blair reaffirmed a “market perform” rating on shares of Viasat in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Viasat in a research note on Monday, February 10th. Finally, Morgan Stanley lowered their price objective on shares of Viasat from $26.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Viasat presently has a consensus rating of “Hold” and a consensus price target of $15.43.

Insider Activity at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 3,750,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the sale, the insider now owns 4,795,334 shares of the company’s stock, valued at approximately $43,158,006. This trade represents a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Miller sold 3,564 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the sale, the executive vice president now directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Viasat Profile

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.