Cove Street Capital LLC Cuts Holdings in ViaSat, Inc. (VSAT)

Cove Street Capital LLC lowered its stake in shares of ViaSat, Inc. (NASDAQ:VSAT) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 661,698 shares of the communications equipment provider’s stock after selling 60,464 shares during the period. ViaSat makes up approximately 5.3% of Cove Street Capital LLC’s portfolio, making the stock its 2nd biggest holding. Cove Street Capital LLC owned approximately 1.15% of ViaSat worth $43,804,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in ViaSat during the second quarter worth approximately $18,403,000. Parametric Portfolio Associates LLC raised its stake in ViaSat by 6.3% during the second quarter. Parametric Portfolio Associates LLC now owns 26,780 shares of the communications equipment provider’s stock worth $1,773,000 after purchasing an additional 1,590 shares during the period. California Public Employees Retirement System raised its stake in ViaSat by 1.8% during the second quarter. California Public Employees Retirement System now owns 83,800 shares of the communications equipment provider’s stock worth $5,548,000 after purchasing an additional 1,500 shares during the period. FIL Ltd raised its stake in ViaSat by 478.8% during the second quarter. FIL Ltd now owns 171,587 shares of the communications equipment provider’s stock worth $11,359,000 after purchasing an additional 141,941 shares during the period. Finally, Vanguard Group Inc. raised its stake in ViaSat by 0.7% during 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. 99.42% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Cove Street Capital LLC Cuts Holdings in ViaSat, Inc. (VSAT)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://ledgergazette.com/2017/09/24/cove-street-capital-llc-cuts-holdings-in-viasat-inc-vsat.html.

In other ViaSat news, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.20, for a total value of $46,340.00. Following the sale, the director now owns 8,700 shares of the company’s stock, valued at approximately $575,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce Leroy Dirks purchased 1,000 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $59.78 per share, for a total transaction of $59,780.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 120,350 shares of company stock valued at $7,423,509. Corporate insiders own 7.70% of the company’s stock.

Shares of ViaSat, Inc. (NASDAQ VSAT) traded down 0.68% on Friday, reaching $62.37. 251,154 shares of the company’s stock traded hands. The company’s 50-day moving average is $62.04 and its 200-day moving average is $64.59. ViaSat, Inc. has a 52 week low of $57.75 and a 52 week high of $82.19. The firm has a market capitalization of $3.62 billion, a P/E ratio of 270.00 and a beta of 0.69.

ViaSat (NASDAQ:VSAT) last released its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). The company had revenue of $380.00 million for the quarter, compared to analyst estimates of $384.29 million. ViaSat had a net margin of 0.82% and a return on equity of 1.21%. ViaSat’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. Equities research analysts anticipate that ViaSat, Inc. will post $0.05 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $89.00 price target on shares of ViaSat in a research note on Monday, August 7th. BidaskClub downgraded shares of ViaSat from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. TheStreet downgraded shares of ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $74.00 price target on shares of ViaSat in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC set a $67.00 price target on shares of ViaSat and gave the stock a “hold” rating in a research note on Sunday, September 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $74.82.

ViaSat 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.

Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

Receive News & Ratings for ViaSat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViaSat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply