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

Hi Line Capital Management LLC reduced its holdings in Viasat, Inc. (NASDAQ:VSAT - Free Report) by 20.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,809 shares of the communications equipment provider's stock after selling 65,330 shares during the quarter. Viasat accounts for about 1.5% of Hi Line Capital Management LLC's investment portfolio, making the stock its 19th largest position. Hi Line Capital Management LLC owned 0.20% of Viasat worth $3,066,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Quest Partners LLC purchased a new stake in Viasat during the second quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider's stock worth $33,000 after buying an additional 1,772 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Viasat during the second quarter valued at approximately $61,000. Carolina Wealth Advisors LLC purchased a new position in shares of Viasat during the third quarter worth approximately $63,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Viasat in the 2nd quarter worth approximately $67,000. Institutional investors own 86.05% of the company's stock.

Viasat Stock Down 1.0 %

Shares of Viasat stock traded down $0.10 on Friday, reaching $9.50. The company's stock had a trading volume of 1,943,012 shares, compared to its average volume of 1,730,473. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -1.16 and a beta of 1.34. 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 52 week low of $9.37 and a 52 week high of $29.11. The firm's fifty day simple moving average is $12.64 and its two-hundred day simple moving average is $15.07.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The firm's quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.83) earnings per share. Equities analysts anticipate that Viasat, Inc. will post -1.5 earnings per share for the current year.

Insider Buying and Selling at Viasat

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of the company'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 $170,052,146.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

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

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.