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.
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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, 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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