Lee Danner & Bass Inc. Has $2.02 Million Position in Viasat Inc. (NASDAQ:VSAT)

Lee Danner & Bass Inc. reduced its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,000 shares of the communications equipment provider's stock after selling 32,500 shares during the period. Lee Danner & Bass Inc. owned 0.15% of Viasat worth $2,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its holdings in Viasat by 75.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 1,267 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Viasat by 850.4% in the fourth 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. New Age Alpha Advisors LLC bought a new stake in Viasat in the fourth quarter worth $35,000. AlphaQuest LLC boosted its holdings in Viasat by 39.0% in the fourth quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider's stock worth $38,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Viasat in the fourth quarter worth $42,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Viasat from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. B. Riley cut their target price on shares of Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Needham & Company LLC cut their target price on shares of Viasat from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, William Blair reissued a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.00.

Viasat Stock Performance

Shares of VSAT traded down $0.12 during trading hours on Tuesday, reaching $15.81. 865,400 shares of the company traded hands, compared to its average volume of 3,046,258. The stock's fifty day moving average is $11.26 and its 200 day moving average is $10.00. The stock has a market cap of $2.06 billion, a P/E ratio of -3.55 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.55 and a current ratio of 1.72. Viasat Inc. has a 1-year low of $6.69 and a 1-year high of $26.70.

About Viasat

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.