Edgestream Partners L.P. Boosts Position in Viasat Inc. $VSAT

Edgestream Partners L.P. boosted its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 88.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,825 shares of the communications equipment provider’s stock after buying an additional 13,998 shares during the quarter. Edgestream Partners L.P.’s holdings in Viasat were worth $1,366,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. bought a new stake in shares of Viasat during the fourth quarter valued at approximately $830,000. South Dakota Investment Council boosted its holdings in shares of Viasat by 92.6% in the first quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after purchasing an additional 161,552 shares during the period. Gamco Investors INC. ET AL grew its stake in Viasat by 84.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 38,700 shares of the communications equipment provider’s stock worth $1,334,000 after purchasing an additional 17,700 shares in the last quarter. Hussman Strategic Advisors Inc. increased its holdings in Viasat by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the communications equipment provider’s stock worth $2,895,000 after purchasing an additional 42,000 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Viasat during the 1st quarter valued at $2,757,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viasat

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $72.23, for a total value of $288,920.00. Following the completion of the sale, the chief financial officer directly owned 30,239 shares in the company, valued at $2,184,162.97. This trade represents a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Baldridge sold 27,122 shares of Viasat stock in a transaction on Wednesday, June 3rd. The stock was 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 in the company, valued at $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 442,803 shares of company stock valued at $28,944,520 over the last three months. Company insiders own 1.40% of the company’s stock.

Viasat Trading Up 5.7%

Shares of NASDAQ VSAT opened at $81.29 on Tuesday. The business has a fifty day moving average price of $72.39 and a 200 day moving average price of $59.75. Viasat Inc. has a 1-year low of $18.31 and a 1-year high of $93.03. 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 stock has a market capitalization of $11.20 billion, a P/E ratio of -280.31 and a beta of 1.72.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Viasat Inc. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Oppenheimer initiated coverage on shares of Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective for the company. Barclays set a $49.00 target price on shares of Viasat in a report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Finally, New Street Research assumed coverage on shares of Viasat in a research note on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.11.

About Viasat

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.