Hi Line Capital Management LLC Reduces Holdings in Viasat, Inc. (NASDAQ:VSAT)

Hi Line Capital Management LLC reduced its stake in Viasat, Inc. (NASDAQ:VSAT) by 1.7% during the first quarter, Holdings Channel.com reports. The firm owned 301,085 shares of the communications equipment provider’s stock after selling 5,169 shares during the period. Viasat accounts for about 1.9% of Hi Line Capital Management LLC’s portfolio, making the stock its 19th largest position. Hi Line Capital Management LLC’s holdings in Viasat were worth $5,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VSAT. Signaturefd LLC increased its stake in shares of Viasat by 303.6% in the fourth quarter. Signaturefd LLC now owns 1,009 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 759 shares during the period. GAMMA Investing LLC purchased a new position in shares of Viasat in the fourth quarter valued at about $37,000. TFO Wealth Partners LLC increased its position in shares of Viasat by 11,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock valued at $47,000 after acquiring an additional 1,655 shares during the period. Tidemark LLC bought a new position in shares of Viasat during the fourth quarter valued at about $72,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Viasat by 49.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock worth $112,000 after purchasing an additional 1,335 shares during the period. Institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

VSAT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Viasat from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Viasat in a report on Monday, June 17th. Morgan Stanley dropped their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Barclays decreased their price target on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.17.

Viasat Stock Performance

Shares of VSAT stock traded down $0.06 during trading hours on Monday, hitting $12.64. 1,029,430 shares of the company’s stock traded hands, compared to its average volume of 1,421,911. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.68 and a quick ratio of 2.44. The stock’s fifty day simple moving average is $15.74 and its two-hundred day simple moving average is $19.19. Viasat, Inc. has a 12-month low of $11.76 and a 12-month high of $44.32.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Tuesday, May 21st. The communications equipment provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.12). Viasat had a negative net margin of 24.95% and a negative return on equity of 19.76%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.11 billion. As a group, sell-side analysts predict that Viasat, Inc. will post -1.46 EPS for the current year.

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.