Odyssean LLC Makes New $1.27 Million Investment in Viasat Inc. $VSAT

Odyssean LLC bought a new stake in shares of Viasat Inc. (NASDAQ:VSAT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,097 shares of the communications equipment provider’s stock, valued at approximately $1,266,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in shares of Viasat during the first quarter worth approximately $25,000. Aberdeen Wealth Management LLC purchased a new position in Viasat in the 2nd quarter valued at $30,000. Elevation Wealth Partners LLC lifted its holdings in Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat during the 4th quarter worth $36,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Viasat during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Transactions at Viasat

In other Viasat news, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $84.69, for a total transaction of $211,725.00. Following the completion of the sale, the director directly owned 11,000 shares in the company, valued at $931,590. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $74.90, for a total transaction of $299,600.00. Following the completion of the sale, the chief financial officer directly owned 26,239 shares in the company, valued at $1,965,301.10. This trade represents a 13.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 675,861 shares of company stock worth $47,705,388 in the last 90 days. Insiders own 1.40% of the company’s stock.

Viasat Price Performance

VSAT stock opened at $72.46 on Wednesday. Viasat Inc. has a 52-week low of $26.10 and a 52-week high of $93.03. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of -301.92 and a beta of 1.72. The business has a fifty day moving average of $74.95 and a two-hundred day moving average of $63.80.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Barclays set a $49.00 price objective on shares of Viasat in a report on Friday, May 29th. New Street Research assumed coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Oppenheimer assumed coverage on Viasat in a report on Monday, June 29th. They set an “outperform” rating and a $140.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

About Viasat

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.