Bridgeway Capital Management LLC Has $26.77 Million Stock Position in Viasat Inc. $VSAT

Bridgeway Capital Management LLC reduced its holdings in Viasat Inc. (NASDAQ:VSAT) by 1.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 776,710 shares of the communications equipment provider’s stock after selling 10,720 shares during the quarter. Viasat makes up about 0.6% of Bridgeway Capital Management LLC’s portfolio, making the stock its 18th largest holding. Bridgeway Capital Management LLC’s holdings in Viasat were worth $26,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Viasat in the 4th quarter valued at approximately $36,000. Los Angeles Capital Management LLC acquired a new position in Viasat in the 4th quarter valued at approximately $38,000. EFG International AG acquired a new position in Viasat in the 4th quarter valued at approximately $41,000. Danske Bank A S acquired a new position in Viasat in the 4th quarter valued at approximately $47,000. Finally, Larson Financial Group LLC increased its position in Viasat by 7,380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock valued at $66,000 after acquiring an additional 2,214 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Trading Up 3.4%

VSAT opened at $64.55 on Thursday. Viasat Inc. has a twelve month low of $12.40 and a twelve month high of $89.79. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average of $67.14 and a 200-day moving average of $51.23. The stock has a market cap of $8.82 billion, a PE ratio of -222.59 and a beta of 1.71.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Viasat Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

VSAT has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the stock an “outperform” rating in a research report on Friday, April 24th. New Street Research started coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. B. Riley Financial increased their price objective on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Viasat currently has an average rating of “Moderate Buy” and a consensus target price of $77.13.

Insiders Place Their Bets

In other Viasat news, Director John P. Stenbit sold 653 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $46,846.22. Following the completion of the sale, the director directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the completion of the sale, the director owned 11,000 shares of the company’s stock, valued at $759,000. The trade was a 18.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 434,275 shares of company stock valued at $28,359,079. 2.20% of the stock is currently owned by corporate insiders.

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.