DAVENPORT & Co LLC trimmed its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,592 shares of the communications equipment provider’s stock after selling 5,858 shares during the period. DAVENPORT & Co LLC’s holdings in ViaSat were worth $1,392,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its stake in shares of ViaSat by 109.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,148,694 shares of the communications equipment provider’s stock valued at $76,044,000 after acquiring an additional 599,752 shares in the last quarter. Hood River Capital Management LLC acquired a new position in ViaSat in the second quarter valued at about $29,147,000. Odey Asset Management Group Ltd grew its stake in ViaSat by 23.2% in the second quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock valued at $142,261,000 after acquiring an additional 404,251 shares during the period. Fiduciary Management Inc. WI grew its stake in ViaSat by 78.2% in the third quarter. Fiduciary Management Inc. WI now owns 779,160 shares of the communications equipment provider’s stock valued at $50,116,000 after acquiring an additional 341,875 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in ViaSat in the second quarter valued at about $18,403,000.
In other news, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $65.40, for a total value of $45,780.00. Following the completion of the transaction, the director now directly owns 10,300 shares of the company’s stock, valued at approximately $673,620. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Keven K. Lippert sold 1,200 shares of ViaSat stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.20, for a total value of $83,040.00. Following the completion of the transaction, the insider now directly owns 2,949 shares of the company’s stock, valued at $204,070.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,400 shares of company stock valued at $1,486,717. 7.70% of the stock is owned by corporate insiders.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The firm had revenue of $393.10 million for the quarter, compared to analyst estimates of $401.83 million. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. research analysts predict that ViaSat, Inc. will post -0.98 earnings per share for the current fiscal year.
Several research firms have recently weighed in on VSAT. B. Riley reaffirmed a “buy” rating and set a $89.00 price objective on shares of ViaSat in a research report on Thursday, November 9th. Needham & Company LLC upgraded ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Friday, November 10th. Zacks Investment Research lowered ViaSat from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Royal Bank of Canada restated an “underperform” rating and issued a $46.00 price objective (down previously from $48.00) on shares of ViaSat in a research note on Tuesday, November 21st. Finally, BidaskClub lowered ViaSat from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. ViaSat presently has a consensus rating of “Hold” and a consensus price target of $73.75.
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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