Gamco Investors INC. ET AL Boosts Position in Viasat Inc. $VSAT

Key Points

• Gamco Investors boosted its Viasat stake by 84.3% in the fourth quarter, ending with 38,700 shares valued at about $1.33 million.
• Viasat shares were down 6.0% in Friday trading, even after reaching a 52-week high of $77.76; the stock opened at $70.76 and has a market cap of $9.61 billion.
• Analyst sentiment has improved overall, with several firms raising price targets; Viasat now has a Moderate Buy consensus and an average target price of $65.50.

Gamco Investors INC. ET AL increased its stake in Viasat Inc. (NASDAQ:VSAT - Free Report) by 84.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,700 shares of the communications equipment provider's stock after buying an additional 17,700 shares during the period. Gamco Investors INC. ET AL's holdings in Viasat were worth $1,334,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in VSAT. Royal Bank of Canada increased its stake in Viasat by 483.2% in the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider's stock worth $1,140,000 after buying an additional 90,680 shares during the period. AQR Capital Management LLC increased its stake in Viasat by 189.7% in the 1st 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 during the period. Millennium Management LLC increased its stake in Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock worth $14,443,000 after buying an additional 1,206,935 shares during the period. Goldman Sachs Group Inc. increased its stake in Viasat by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock worth $29,866,000 after buying an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC increased its stake in Viasat by 6.9% in the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider's stock worth $2,357,000 after buying an additional 14,575 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Trading Down 6.0%

NASDAQ VSAT opened at $70.76 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of -27.32 and a beta of 1.66. The company's 50-day simple moving average is $58.23 and its two-hundred day simple moving average is $46.32. Viasat Inc. has a one year low of $8.61 and a one year high of $77.76.

Insider Buying and Selling at Viasat

In other Viasat news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares of the company's stock, valued at approximately $1,175,166.51. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Craig Andrew Miller sold 5,260 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $50.00, for a total transaction of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares in the company, valued at $1,062,600. This trade represents a 19.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 38,071 shares of company stock valued at $1,804,437. Company insiders own 2.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on VSAT shares. Barclays raised shares of Viasat from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $23.00 to $49.00 in a research note on Wednesday, April 8th. B. Riley Financial raised their price target on shares of Viasat from $52.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. New Street Research started coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a research note on Monday, April 20th. Finally, Needham & Company LLC raised their target price on shares of Viasat from $45.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Viasat presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.50.

Viasat 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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