DAVENPORT & Co LLC lessened its holdings in ViaSat, Inc. (NASDAQ:VSAT) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,592 shares of the communications equipment provider’s stock after selling 5,858 shares during the period. DAVENPORT & Co LLC’s holdings in ViaSat were worth $1,392,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of ViaSat by 1.6% in the 2nd quarter. BlackRock Inc. now owns 5,478,099 shares of the communications equipment provider’s stock worth $362,651,000 after buying an additional 84,457 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ViaSat by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,459,294 shares of the communications equipment provider’s stock worth $295,205,000 after purchasing an additional 30,325 shares during the period. Odey Asset Management Group Ltd increased its holdings in shares of ViaSat by 23.2% in the second quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock worth $142,261,000 after purchasing an additional 404,251 shares during the period. State Street Corp grew its position in ViaSat by 5.3% in the second quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock worth $116,669,000 after acquiring an additional 88,421 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in ViaSat by 109.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,148,694 shares of the communications equipment provider’s stock worth $76,044,000 after acquiring an additional 599,752 shares in the last quarter.
In related news, Director John P. Stenbit sold 700 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $74.10, for a total value of $51,870.00. Following the completion of the transaction, the director now directly owns 10,300 shares of the company’s stock, valued at $763,230. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Stenbit sold 800 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total transaction of $59,888.00. Following the completion of the transaction, the director now directly owns 10,400 shares of the company’s stock, valued at $778,544. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,400 shares of company stock valued at $1,486,717. 7.70% of the stock is owned by insiders.
Several brokerages recently issued reports on VSAT. Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub upgraded shares of ViaSat from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Royal Bank of Canada restated an “underperform” rating and set a $46.00 price target (down from $48.00) on shares of ViaSat in a research report on Tuesday, November 21st. Morgan Stanley started coverage on shares of ViaSat in a research report on Friday, December 15th. They set an “equal weight” rating and a $78.00 price target for the company. Finally, Needham & Company LLC upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $73.75.
ViaSat, Inc. (NASDAQ:VSAT) traded down $0.30 during trading on Wednesday, hitting $76.14. 329,000 shares of the stock were exchanged, compared to its average volume of 274,720. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4,480.00, a price-to-earnings ratio of -380.70 and a beta of 0.78. ViaSat, Inc. has a one year low of $57.75 and a one year high of $77.77.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $393.10 million during the quarter, compared to analyst estimates of $401.83 million. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. ViaSat’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. sell-side analysts anticipate that ViaSat, Inc. will post -0.98 earnings per share for the current year.
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ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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