Lodge Hill Capital LLC Has $17.18 Million Stock Holdings in Viasat Inc. $VSAT

Lodge Hill Capital LLC decreased its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 48.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 375,000 shares of the communications equipment provider’s stock after selling 350,000 shares during the period. Viasat makes up 2.5% of Lodge Hill Capital LLC’s holdings, making the stock its 18th largest position. Lodge Hill Capital LLC’s holdings in Viasat were worth $17,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in Viasat by 483.2% in the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock valued at $1,140,000 after purchasing an additional 90,680 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Viasat by 189.7% during the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock worth $4,692,000 after buying an additional 296,612 shares during the last quarter. Millennium Management LLC grew its position in shares of Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after buying an additional 1,206,935 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Viasat by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after buying an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Viasat by 6.9% in the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock valued at $2,357,000 after acquiring an additional 14,575 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VSAT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Barclays set a $49.00 target price on shares of Viasat in a research note on Friday, May 29th. New Street Research initiated coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Finally, Zacks Research lowered shares of Viasat from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

Viasat Trading Down 5.3%

NASDAQ VSAT opened at $70.19 on Thursday. Viasat Inc. has a one year low of $14.63 and a one year high of $93.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The firm has a market cap of $9.67 billion, a P/E ratio of -242.03 and a beta of 1.70. The stock’s 50-day moving average is $72.07 and its 200-day moving average is $58.96.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Viasat’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Viasat

In other Viasat news, Director Richard A. Baldridge sold 27,122 shares of Viasat stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the transaction, the director owned 213,355 shares of the company’s stock, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark D. Dankberg sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the transaction, the chief executive officer owned 1,082,196 shares of the company’s stock, valued at $70,083,012.96. This trade represents a 26.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 442,803 shares of company stock valued at $28,944,520. 2.20% of the stock is currently owned by insiders.

Viasat Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.