Hi Line Capital Management LLC Sells 45,235 Shares of Viasat, Inc. (NASDAQ:VSAT)

Hi Line Capital Management LLC lessened its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 approximately 0.16% of Viasat worth $1,800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. State Street Corp grew its position in Viasat by 6.6% during the 3rd quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider’s stock worth $53,083,000 after purchasing an additional 276,376 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in Viasat by 28.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider’s stock worth $52,766,000 after purchasing an additional 969,942 shares during the last quarter. Geode Capital Management LLC grew its position in Viasat by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,508,056 shares of the communications equipment provider’s stock worth $29,950,000 after purchasing an additional 122,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Viasat by 8.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,523,465 shares of the communications equipment provider’s stock worth $18,190,000 after purchasing an additional 115,909 shares during the last quarter. Finally, South Dakota Investment Council grew its position in Viasat by 98.5% during the 4th quarter. South Dakota Investment Council now owns 675,378 shares of the communications equipment provider’s stock worth $5,747,000 after purchasing an additional 335,082 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Stock Performance

VSAT opened at $9.00 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60. The firm has a fifty day moving average price of $9.34 and a 200 day moving average price of $11.21. Viasat, Inc. has a 1 year low of $6.69 and a 1 year high of $26.70. The stock has a market cap of $1.16 billion, a P/E ratio of -2.68 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last posted its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.37%. Equities research analysts anticipate that Viasat, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on VSAT. StockNews.com raised shares of Viasat from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays dropped their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Morgan Stanley dropped their price objective on shares of Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. William Blair reaffirmed a “market perform” rating on shares of Viasat in a report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Viasat in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Viasat presently has an average rating of “Hold” and an average target price of $15.43.

Insider Activity at Viasat

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the transaction, the executive vice president now directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cpp Investment Board Private H sold 3,750,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the transaction, the insider now owns 4,795,334 shares of the company’s stock, valued at $43,158,006. This represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Viasat 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.