Lee Danner & Bass Inc. Has $38.15 Million Position in Viasat Inc. $VSAT

Key Points

• Lee Danner & Bass Inc. increased its Viasat stake by 227.3% in the first quarter, adding 578,425 shares to reach 832,925 shares valued at about $38.1 million.
• Several other institutional investors also boosted or initiated positions, and 86.05% of Viasat shares are held by institutions, showing heavy professional ownership of the stock.
• Viasat’s latest earnings missed analyst expectations, with EPS of -$0.02 versus a projected $0.32 and revenue of $1.17 billion versus $1.20 billion expected, while analysts currently rate the stock a Moderate Buy with an average price target of $84.11.

Lee Danner & Bass Inc. lifted its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 227.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 832,925 shares of the communications equipment provider's stock after purchasing an additional 578,425 shares during the period. Viasat accounts for approximately 2.4% of Lee Danner & Bass Inc.'s portfolio, making the stock its 7th largest position. Lee Danner & Bass Inc. owned 0.61% of Viasat worth $38,148,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IFM Investors Pty Ltd bought a new position in Viasat during the 1st quarter valued at approximately $349,000. Inspire Investing LLC increased its stake in shares of Viasat by 232.9% during the first quarter. Inspire Investing LLC now owns 45,463 shares of the communications equipment provider's stock valued at $2,082,000 after buying an additional 31,808 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Viasat by 11.6% during the first quarter. Pictet Asset Management Holding SA now owns 18,660 shares of the communications equipment provider's stock valued at $855,000 after buying an additional 1,940 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Viasat during the first quarter valued at approximately $2,757,000. Finally, Diversified Trust Co lifted its stake in Viasat by 11.9% in the first quarter. Diversified Trust Co now owns 23,051 shares of the communications equipment provider's stock worth $1,056,000 after acquiring an additional 2,445 shares during the period. 86.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Viasat news, Director Richard A. Baldridge sold 27,122 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the sale, the director owned 213,355 shares in the company, valued at approximately $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theresa Wise sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. Following the transaction, the director directly owned 11,000 shares of the company's stock, valued at $759,000. This represents a 18.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 438,275 shares of company stock worth $28,608,719 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

Viasat Price Performance

Shares of VSAT stock opened at $83.06 on Friday. The business's fifty day moving average is $70.08 and its 200 day moving average is $54.14. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of -286.41 and a beta of 1.70. Viasat Inc. has a twelve month low of $14.00 and a twelve month high of $93.03.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on VSAT. Oppenheimer started coverage on shares of Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price target on the stock. Barclays set a $49.00 target price on shares of Viasat in a research note on Friday, May 29th. 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 target on the stock. Needham & Company LLC increased their price target on shares of Viasat from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Finally, B. Riley Financial raised their price objective on shares of Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.11.

About Viasat

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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