Brightline Capital Management LLC Has $59.66 Million Stock Position in Viasat Inc. $VSAT

Key Points

• Brightline Capital boosted its stake in Viasat to 2,036,000 shares (up 1.8%), a position worth about $59.66 million that comprises roughly 24.4% of Brightline's portfolio and about 1.52% of Viasat.
• Analysts have turned more positive recently—Deutsche Bank and JPMorgan upgraded Viasat—and the stock carries an average rating of "Moderate Buy" with a mean price target of $45.86.
• Company insiders have been net sellers: CEO Mark D. Dankberg sold 200,000 shares for roughly $7.02 million, and insiders disposed of 354,290 shares (~$13.06 million) over the past three months, leaving insiders with about 2.20% ownership.

Brightline Capital Management LLC grew its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,036,000 shares of the communications equipment provider's stock after purchasing an additional 36,000 shares during the quarter. Viasat makes up approximately 24.4% of Brightline Capital Management LLC's investment portfolio, making the stock its largest position. Brightline Capital Management LLC owned approximately 1.52% of Viasat worth $59,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Viasat by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,387 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 327 shares during the period. Victory Capital Management Inc. increased its position in shares of Viasat by 1.9% during the third quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider's stock worth $561,000 after acquiring an additional 361 shares during the period. Arizona State Retirement System raised its stake in shares of Viasat by 2.4% during the third quarter. Arizona State Retirement System now owns 30,838 shares of the communications equipment provider's stock valued at $904,000 after acquiring an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Viasat by 5.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,370 shares of the communications equipment provider's stock valued at $418,000 after acquiring an additional 720 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Viasat in the third quarter valued at approximately $25,000. Hedge funds and other institutional investors own 86.05% of the company's stock.

Analyst Ratings Changes

VSAT has been the topic of several research reports. William Blair restated an "outperform" rating on shares of Viasat in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a "hold" rating to a "buy" rating and upped their target price for the stock from $36.00 to $48.00 in a report on Friday, February 6th. JPMorgan Chase & Co. raised Viasat from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $50.00 in a research report on Tuesday, November 11th. Morgan Stanley set a $51.00 price target on Viasat in a research note on Friday, January 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 price objective on shares of Viasat in a report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.86.

Insider Activity

In other news, CEO Mark D. Dankberg sold 200,000 shares of the business's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $35.09, for a total value of $7,018,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,534,993 shares of the company's stock, valued at approximately $53,862,904.37. The trade was a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the company's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $48.00, for a total value of $134,880.00. Following the sale, the chief accounting officer owned 9,946 shares of the company's stock, valued at $477,408. This trade represents a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 354,290 shares of company stock worth $13,059,722. 2.20% of the stock is currently owned by company insiders.

Viasat Stock Performance

Shares of VSAT stock opened at $46.31 on Wednesday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of -17.88 and a beta of 1.44. Viasat Inc. has a 52-week low of $7.36 and a 52-week high of $50.24. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The company's 50 day moving average is $43.85 and its 200 day moving average is $37.39.

Viasat Company Profile

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.

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