Bridgeway Capital Management LLC Increases Stake in 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 lifted its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 476,184 shares of the communications equipment provider's stock after purchasing an additional 17,836 shares during the quarter. Bridgeway Capital Management LLC owned about 0.37% of Viasat worth $4,962,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Long Focus Capital Management LLC purchased a new position in shares of Viasat during the first quarter valued at approximately $24,695,000. Nuveen LLC purchased a new position in shares of Viasat during the first quarter valued at approximately $20,593,000. Two Sigma Investments LP boosted its position in shares of Viasat by 538.7% during the fourth quarter. Two Sigma Investments LP now owns 1,136,675 shares of the communications equipment provider's stock valued at $9,673,000 after buying an additional 958,706 shares during the period. Vanguard Group Inc. boosted its position in shares of Viasat by 6.3% during the first quarter. Vanguard Group Inc. now owns 14,646,644 shares of the communications equipment provider's stock valued at $152,618,000 after buying an additional 872,784 shares during the period. Finally, Tenzing Global Management LLC purchased a new position in shares of Viasat during the fourth quarter valued at approximately $7,170,000. 86.05% of the stock is owned by institutional investors.

Viasat Stock Down 1.5%

Viasat stock traded down $0.45 during mid-day trading on Friday, reaching $29.65. 3,681,033 shares of the company were exchanged, compared to its average volume of 3,781,860. The business has a fifty day moving average of $21.62 and a 200 day moving average of $14.02. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11. The firm has a market cap of $3.98 billion, a P/E ratio of -6.42 and a beta of 1.26. Viasat Inc. has a 12-month low of $6.69 and a 12-month high of $33.85.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC boosted their price target on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Viasat in a report on Thursday, August 7th. B. Riley lowered their price target on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price target on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, William Blair reiterated an "outperform" rating on shares of Viasat in a report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $21.13.

About Viasat

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.