Odyssean LLC Takes $1.27 Million Position in Viasat Inc. $VSAT

Odyssean LLC acquired a new stake in Viasat Inc. (NASDAQ:VSAT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,097 shares of the communications equipment provider’s stock, valued at approximately $1,266,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VSAT. BlackRock Inc. acquired a new position in Viasat in the 2nd quarter valued at about $1,863,374,000. Disciplined Growth Investors Inc. MN increased its stake in Viasat by 15.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock worth $85,338,000 after purchasing an additional 796,349 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Viasat by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after purchasing an additional 738,656 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Viasat by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock worth $115,266,000 after purchasing an additional 273,369 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after purchasing an additional 3,112,670 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. New Street Research started coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Needham & Company LLC raised their price target on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Oppenheimer began coverage on shares of Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target for the company. Finally, B. Riley Financial upped their price objective on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.67.

Viasat Stock Performance

Shares of VSAT opened at $72.46 on Wednesday. The stock has a 50-day simple moving average of $74.95 and a 200-day simple moving average of $63.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The stock has a market capitalization of $9.98 billion, a PE ratio of -301.92 and a beta of 1.72. Viasat Inc. has a 1 year low of $26.10 and a 1 year high of $93.03.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Viasat Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the sale, the chief financial officer directly owned 34,239 shares of the company’s stock, valued at approximately $2,136,855.99. This represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark D. Dankberg sold 400,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 1,082,196 shares in the company, valued at $70,083,012.96. The trade was a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 675,861 shares of company stock valued at $47,705,388 over the last ninety days. 1.40% of the stock is currently owned by corporate 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.