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

Hi Line Capital Management LLC cut its stake in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 17.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 211,574 shares of the communications equipment provider's stock after selling 45,235 shares during the period. Hi Line Capital Management LLC owned about 0.16% of Viasat worth $1,800,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. South Dakota Investment Council raised its position in Viasat by 98.5% during the fourth quarter. South Dakota Investment Council now owns 675,378 shares of the communications equipment provider's stock worth $5,747,000 after acquiring an additional 335,082 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Viasat during the fourth quarter worth $1,787,000. Venturi Wealth Management LLC acquired a new position in Viasat during the fourth quarter worth $31,000. Principal Financial Group Inc. raised its position in Viasat by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 413,122 shares of the communications equipment provider's stock worth $3,516,000 after acquiring an additional 12,802 shares during the period. Finally, Rhumbline Advisers raised its position in Viasat by 1.8% during the fourth quarter. Rhumbline Advisers now owns 319,471 shares of the communications equipment provider's stock worth $2,719,000 after acquiring an additional 5,573 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Trading Up 1.2 %

Shares of VSAT traded up $0.10 during mid-day trading on Thursday, reaching $8.77. The stock had a trading volume of 2,449,757 shares, compared to its average volume of 4,397,717. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60. Viasat, Inc. has a 52-week low of $6.69 and a 52-week high of $26.70. The business's fifty day moving average is $9.32 and its 200 day moving average is $10.99. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.61 and a beta of 1.35.

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Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.37%. On average, sell-side analysts predict that Viasat, Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viasat news, insider Cpp Investment Board Private H sold 3,750,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 4,795,334 shares of the company's stock, valued at $43,158,006. This trade represents a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the transaction, the executive vice president now directly owns 350,351 shares of the company's stock, valued at approximately $3,226,732.71. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

VSAT has been the subject of a number of recent research reports. Barclays increased their target price on shares of Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of Viasat in a research report on Monday, February 10th. William Blair reiterated a "market perform" rating on shares of Viasat in a research report on Friday, February 7th. StockNews.com cut shares of Viasat from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Morgan Stanley reduced their target price on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.57.

Viasat Company 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.