OCO Capital Partners L.P. Decreases Stake in Viasat Inc. $VSAT

OCO Capital Partners L.P. trimmed its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,950,000 shares of the communications equipment provider's stock after selling 50,000 shares during the quarter. Viasat comprises 39.5% of OCO Capital Partners L.P.'s portfolio, making the stock its biggest holding. OCO Capital Partners L.P. owned about 4.38% of Viasat worth $205,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VSAT. Vise Technologies Inc. grew its holdings in Viasat by 4.8% during the 4th quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider's stock worth $257,000 after acquiring an additional 342 shares during the last quarter. CWM LLC raised its stake in shares of Viasat by 1.8% in the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider's stock worth $667,000 after acquiring an additional 349 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Viasat by 1.9% during the third quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider's stock worth $561,000 after purchasing an additional 361 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Viasat by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,039 shares of the communications equipment provider's stock worth $277,000 after purchasing an additional 396 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Viasat by 20.1% during the fourth quarter. GAMMA Investing LLC now owns 2,866 shares of the communications equipment provider's stock valued at $99,000 after purchasing an additional 479 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company's stock.

Viasat Stock Down 5.2%

Shares of NASDAQ:VSAT opened at $62.45 on Wednesday. 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 stock has a market cap of $8.53 billion, a price-to-earnings ratio of -215.34 and a beta of 1.71. The company has a 50 day moving average of $66.89 and a 200-day moving average of $51.02. Viasat Inc. has a one year low of $12.40 and a one year high of $89.79.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings data 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). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Viasat Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VSAT shares. Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a research note on Monday, April 20th. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, B. Riley Financial upped their price target on Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.13.

Insider Buying and Selling

In related news, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total transaction of $290,000.00. Following the completion of the sale, the chief financial officer directly owned 38,239 shares of the company's stock, valued at $2,772,327.50. The trade was a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Theresa Wise sold 2,500 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the sale, the director owned 11,000 shares of the company's stock, valued at $759,000. This represents a 18.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 434,275 shares of company stock worth $28,359,079 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

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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