Bridgeway Capital Management LLC Purchases 17,836 Shares of Viasat Inc. $VSAT

Key Points

• Bridgeway Capital Management LLC increased its stake in Viasat Inc. by 3.9%, now holding 476,184 shares worth approximately $4.96 million.
• Viasat reported an earnings per share (EPS) of $0.17 for the last quarter, outperforming analyst expectations, and had revenue of $1.17 billion, a 4% increase year-over-year.
• Several hedge funds made significant position increases in Viasat shares during the first quarter, with 86.05% of the company's stock now held by institutional investors.

Bridgeway Capital Management LLC increased its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 476,184 shares of the communications equipment provider's stock after purchasing an additional 17,836 shares during the period. Bridgeway Capital Management LLC owned approximately 0.37% of Viasat worth $4,962,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VSAT. PNC Financial Services Group Inc. boosted its position in Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after buying an additional 2,224 shares during the period. MAI Capital Management lifted its position in shares of Viasat by 74.7% in the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 1,640 shares during the period. Quarry LP lifted its position in shares of Viasat by 2,412.3% in the 1st quarter. Quarry LP now owns 5,728 shares of the communications equipment provider's stock worth $60,000 after purchasing an additional 5,500 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Viasat in the 1st quarter worth approximately $63,000. Finally, US Bancorp DE raised its stake in shares of Viasat by 46.4% during the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock worth $66,000 after acquiring an additional 2,019 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Stock Performance

VSAT traded down $0.79 on Wednesday, hitting $30.08. The company had a trading volume of 769,845 shares, compared to its average volume of 3,660,106. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $33.85. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of -6.58 and a beta of 1.26. The company's fifty day moving average price is $22.26 and its 200 day moving average price is $14.28. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.32. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VSAT shares. B. Riley decreased their price objective on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Needham & Company LLC lifted their price objective on shares of Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Viasat currently has an average rating of "Hold" and a consensus price target of $21.13.

Viasat Company 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.