Hanseatic Management Services Inc. Buys New Stake in Viasat Inc. $VSAT

Key Points

• Hanseatic Management Services opened a new position in Viasat during the first quarter, buying 34,569 shares valued at about $1.58 million. The stake represents roughly 1.5% of its portfolio and is now its 22nd-largest holding.
• Viasat has seen significant insider selling, including CEO Mark D. Dankberg’s sale of 400,000 shares and Director Richard A. Baldridge’s sale of 27,122 shares. Over the past three months, insiders have sold 438,803 shares worth about $28.7 million.
• The company recently missed earnings estimates, reporting adjusted EPS of -$0.02 versus expectations of $0.32, while revenue came in at $1.17 billion versus $1.20 billion expected. Despite mixed fundamentals, analysts still rate the stock Moderate Buy with a consensus price target of $84.11.

Hanseatic Management Services Inc. purchased a new position in Viasat Inc. (NASDAQ:VSAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,569 shares of the communications equipment provider's stock, valued at approximately $1,583,000. Viasat makes up approximately 1.5% of Hanseatic Management Services Inc.'s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in VSAT. Valued Wealth Advisors LLC purchased a new position in shares of Viasat during the first quarter valued at about $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Viasat during the 4th quarter valued at approximately $36,000. Los Angeles Capital Management LLC purchased a new position in Viasat during the 4th quarter valued at approximately $38,000. EFG International AG bought a new stake in Viasat in the 4th quarter worth approximately $41,000. Finally, Danske Bank A S bought a new stake in Viasat in the 4th quarter worth approximately $47,000. Institutional investors own 86.05% of the company's stock.

Insider Buying and Selling at Viasat

In related news, CEO Mark D. Dankberg sold 400,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $64.76, for a total value of $25,904,000.00. Following the sale, 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. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Baldridge sold 27,122 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the completion of the sale, the director directly owned 213,355 shares of the company's stock, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 438,803 shares of company stock valued at $28,655,600. Insiders own 2.20% of the company's stock.

Viasat Price Performance

NASDAQ:VSAT opened at $71.48 on Friday. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of -246.48 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The business has a 50 day simple moving average of $71.94 and a 200-day simple moving average of $56.81. Viasat Inc. has a 1 year low of $14.00 and a 1 year high of $93.03.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer began coverage on Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 target price for the company. B. Riley Financial boosted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Raymond James Financial set a $74.00 price target on shares of Viasat and gave the company an "outperform" rating in a research note on Friday, April 24th. New Street Research assumed coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a "buy" rating and a $100.00 price objective for the company. Finally, Zacks Research cut shares of Viasat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Viasat currently has an average rating of "Moderate Buy" and a consensus price target 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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