Fox Run Management L.L.C. Makes New Investment in Viasat Inc. $VSAT

Key Points

• Fox Run Management L.L.C. has invested approximately $265,000 in Viasat Inc., acquiring 25,469 shares during the first quarter.
• Analysts are optimistic about Viasat's performance, with several firms raising their price targets, including Needham & Company increasing it from $16.00 to $25.00.
• Despite recent challenges, Viasat reported a positive EPS of $0.17, surpassing analyst expectations and reflecting a 4.0% revenue increase year-over-year.

Fox Run Management L.L.C. purchased a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,469 shares of the communications equipment provider's stock, valued at approximately $265,000.

A number of other hedge funds have also modified their holdings of VSAT. PNC Financial Services Group Inc. increased its position in Viasat by 233.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock worth $33,000 after buying an additional 2,224 shares in the last quarter. Sterling Capital Management LLC increased its position in Viasat by 850.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock worth $34,000 after purchasing an additional 3,546 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Viasat during the 1st quarter worth about $63,000. US Bancorp DE raised its stake in Viasat by 46.4% in the 1st quarter. US Bancorp DE now owns 6,367 shares of the communications equipment provider's stock valued at $66,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Wexford Capital LP purchased a new position in Viasat in the 4th quarter valued at about $93,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Trading Up 1.0%

Shares of NASDAQ VSAT traded up $0.28 during midday trading on Monday, hitting $28.21. The stock had a trading volume of 3,407,397 shares, compared to its average volume of 4,754,236. The company has a quick ratio of 1.87, a current ratio of 2.11 and a debt-to-equity ratio of 1.42. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $28.59. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -6.11 and a beta of 1.20. The company has a fifty day moving average price of $18.45 and a 200 day moving average price of $12.65.

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

Analyst Ratings Changes

VSAT has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Viasat from $10.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. B. Riley cut 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. William Blair upgraded Viasat from a "market perform" rating to an "outperform" rating in a report on Monday, August 4th. Finally, Needham & Company LLC lifted their price objective on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.13.

Viasat 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.