Long Focus Capital Management LLC Reduces Holdings in Viasat Inc. $VSAT

Long Focus Capital Management LLC lowered its position in shares of Viasat Inc. (NASDAQ:VSAT) by 56.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,339,327 shares of the communications equipment provider’s stock after selling 1,709,975 shares during the period. Viasat comprises about 1.3% of Long Focus Capital Management LLC’s holdings, making the stock its 17th largest position. Long Focus Capital Management LLC owned 0.99% of Viasat worth $39,242,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Viasat in a research report on Wednesday, January 21st. Morgan Stanley set a $51.00 price objective on shares of Viasat in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Wednesday, January 21st. William Blair reiterated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and raised their price target for the stock from $36.00 to $48.00 in a report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.86.

Insider Transactions at Viasat

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the sale, the senior vice president owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $48.00, for a total transaction of $134,880.00. Following the transaction, the chief accounting officer owned 9,946 shares in the company, valued at approximately $477,408. This trade represents a 22.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,210 shares of company stock worth $4,279,784. Company insiders own 2.20% of the company’s stock.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $47.53 on Tuesday. The stock has a fifty day moving average price of $44.68 and a 200 day moving average price of $37.83. Viasat Inc. has a 1-year low of $7.36 and a 1-year high of $50.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The company has a market cap of $6.46 billion, a PE ratio of -18.35 and a beta of 1.44.

Viasat Company 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.