Louisiana State Employees Retirement System Takes $2.76 Million Position in Viasat Inc. $VSAT

Key Points

• Louisiana State Employees Retirement System initiated a new position in Viasat during the first quarter, buying 60,200 shares valued at about $2.76 million.
• Institutional ownership in Viasat remains very high at 86.05%, while several large funds have recently boosted their stakes in the company.
• Viasat reported mixed quarterly results, missing earnings and revenue estimates, even as analysts remain generally bullish with a Moderate Buy consensus and a $77.12 average price target.

Louisiana State Employees Retirement System acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 60,200 shares of the communications equipment provider's stock, valued at approximately $2,757,000.

Several other hedge funds have also added to or reduced their stakes in VSAT. Disciplined Growth Investors Inc. MN lifted its position in Viasat by 15.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock valued at $85,338,000 after acquiring an additional 796,349 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Viasat by 22.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,050,883 shares of the communications equipment provider's stock valued at $139,601,000 after purchasing an additional 743,696 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Viasat by 38.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Viasat by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider's stock worth $115,266,000 after purchasing an additional 273,369 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Viasat by 2,821.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider's stock valued at $111,065,000 after purchasing an additional 3,112,670 shares in the last quarter. 86.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard A. Baldridge sold 27,122 shares of Viasat stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the transaction, the director owned 213,355 shares in the company, valued at approximately $15,306,087.70. This trade represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Stenbit sold 653 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $46,846.22. Following the sale, the director directly owned 29,597 shares in the company, valued at $2,123,288.78. The trade was a 2.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 438,275 shares of company stock worth $28,608,719 in the last 90 days. 2.20% of the stock is owned by company insiders.

Viasat Price Performance

NASDAQ VSAT opened at $61.95 on Monday. Viasat Inc. has a 12 month low of $14.00 and a 12 month high of $89.79. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The stock has a market cap of $8.46 billion, a PE ratio of -213.62 and a beta of 1.70. The stock's 50 day moving average is $68.04 and its 200 day moving average is $52.63.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. Research analysts predict that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VSAT. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the stock an "outperform" rating in a report on Friday, April 24th. B. Riley Financial boosted their target price on shares of Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 29th. New Street Research assumed coverage on 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 report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.12.

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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