Hi Line Capital Management LLC Trims Holdings in Viasat Inc. $VSAT

Key Points

• Hi Line Capital Management cut its Viasat stake by 15.7% in the fourth quarter, selling 39,309 shares and leaving it with 211,050 shares valued at about $7.27 million.
• Insider selling has also been notable, with senior vice presidents Robert James Blair and Craig Andrew Miller selling shares in March; insiders have sold 38,071 shares worth $1.8 million over the last 90 days.
• Analyst sentiment is mixed but generally positive, with a consensus Moderate Buy rating and a $65.50 price target, even as Weiss Ratings maintained a sell call.

Hi Line Capital Management LLC decreased its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,050 shares of the communications equipment provider's stock after selling 39,309 shares during the period. Viasat comprises approximately 2.4% of Hi Line Capital Management LLC's holdings, making the stock its 16th largest holding. Hi Line Capital Management LLC owned approximately 0.16% of Viasat worth $7,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Viasat by 8.2% in the third quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider's stock worth $497,015,000 after purchasing an additional 1,289,024 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock worth $85,338,000 after purchasing an additional 796,349 shares during the period. American Century Companies Inc. increased its stake in Viasat by 38.5% in the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider's stock worth $108,808,000 after purchasing an additional 1,033,194 shares during the period. Dimensional Fund Advisors LP increased its stake in Viasat by 43.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider's stock worth $96,890,000 after purchasing an additional 1,002,737 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock worth $29,866,000 after purchasing an additional 1,128,338 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Insider Transactions at Viasat

In other news, SVP Robert James Blair sold 30,411 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the transaction, the senior vice president owned 38,108 shares of the company's stock, valued at approximately $1,792,600.32. This represents a 44.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Craig Andrew Miller sold 5,260 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares in the company, valued at $1,062,600. The trade was a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 38,071 shares of company stock valued at $1,804,437. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Viasat Price Performance

VSAT opened at $75.27 on Thursday. Viasat Inc. has a 12-month low of $8.61 and a 12-month high of $75.72. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The business's fifty day simple moving average is $57.74 and its 200-day simple moving average is $46.11. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of -29.06 and a beta of 1.66.

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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