Empowered Funds LLC Has $17.61 Million Position in Viasat Inc. $VSAT

Empowered Funds LLC cut its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 384,400 shares of the communications equipment provider's stock after selling 44,307 shares during the quarter. Empowered Funds LLC owned 0.28% of Viasat worth $17,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Viasat by 483.2% in the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider's stock valued at $1,140,000 after buying an additional 90,680 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Viasat by 189.7% during the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider's stock worth $4,692,000 after buying an additional 296,612 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock valued at $14,443,000 after acquiring an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Viasat by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock valued at $29,866,000 after acquiring an additional 1,128,338 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Viasat by 69.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,466 shares of the communications equipment provider's stock valued at $2,631,000 after acquiring an additional 103,396 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Viasat

In other news, Director Theresa Wise sold 2,500 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the sale, the director directly owned 11,000 shares of the company's stock, valued at approximately $759,000. This represents a 18.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark D. Dankberg sold 400,000 shares of Viasat stock in a transaction on Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the transaction, the chief executive officer directly owned 1,082,196 shares of the company's stock, valued at $70,083,012.96. This represents a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 442,803 shares of company stock worth $28,944,520. Company insiders own 2.20% of the company's stock.

Viasat Trading Down 1.0%

Shares of VSAT stock opened at $74.13 on Wednesday. Viasat Inc. has a 1-year low of $14.50 and a 1-year high of $93.03. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of -255.62 and a beta of 1.70. The stock has a 50-day moving average of $72.17 and a 200-day moving average of $58.73.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.Viasat's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, equities research analysts forecast that Viasat Inc. will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

VSAT has been the subject of a number of recent research reports. Oppenheimer initiated coverage on Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. B. Riley Financial boosted their price target on Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, New Street Research started coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Viasat presently has an average rating of "Moderate Buy" and an average target price of $84.11.

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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