Independent Portfolio Consultants Inc. Reduces Stake in ViaSat, Inc. (VSAT)

Independent Portfolio Consultants Inc. lowered its stake in ViaSat, Inc. (NASDAQ:VSAT) by 27.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,848 shares of the communications equipment provider’s stock after selling 712 shares during the period. Independent Portfolio Consultants Inc.’s holdings in ViaSat were worth $122,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of VSAT. Norges Bank bought a new stake in ViaSat during the fourth quarter worth about $44,042,000. Geode Capital Management LLC raised its stake in ViaSat by 10.9% in the first quarter. Geode Capital Management LLC now owns 437,084 shares of the communications equipment provider’s stock worth $27,894,000 after buying an additional 42,961 shares during the period. Guggenheim Capital LLC raised its stake in ViaSat by 40.4% in the fourth quarter. Guggenheim Capital LLC now owns 18,115 shares of the communications equipment provider’s stock worth $1,199,000 after buying an additional 5,211 shares during the period. Oregon Public Employees Retirement Fund raised its stake in ViaSat by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,039 shares of the communications equipment provider’s stock worth $1,151,000 after buying an additional 300 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in ViaSat by 25.8% in the first quarter. UBS Asset Management Americas Inc. now owns 28,696 shares of the communications equipment provider’s stock worth $1,831,000 after buying an additional 5,878 shares during the period. Institutional investors own 94.17% of the company’s stock.

ViaSat, Inc. (NASDAQ VSAT) traded down 1.50% on Tuesday, reaching $65.68. The company’s stock had a trading volume of 622,606 shares. The stock has a market capitalization of $3.79 billion, a P/E ratio of 145.96 and a beta of 0.68. ViaSat, Inc. has a 52 week low of $61.85 and a 52 week high of $82.19. The firm has a 50 day moving average price of $65.85 and a 200 day moving average price of $65.65.

ViaSat (NASDAQ:VSAT) last released its earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $416.40 million during the quarter, compared to analysts’ expectations of $400.90 million. ViaSat had a net margin of 1.52% and a return on equity of 2.07%. ViaSat’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities analysts anticipate that ViaSat, Inc. will post $0.34 EPS for the current year.

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A number of research firms have recently issued reports on VSAT. B. Riley restated a “buy” rating and issued a $89.00 price target on shares of ViaSat in a research report on Monday. Barclays PLC restated an “equal weight” rating and issued a $80.00 price target (down from $82.00) on shares of ViaSat in a research report on Monday, July 10th. BidaskClub lowered ViaSat from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Cowen and Company upgraded ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Finally, Wunderlich upgraded ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price target for the company in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.45.

In other news, insider Kevin J. Harkenrider sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the completion of the sale, the insider now directly owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.20, for a total transaction of $46,340.00. Following the sale, the director now directly owns 8,700 shares of the company’s stock, valued at $575,940. The disclosure for this sale can be found here. Insiders sold a total of 26,400 shares of company stock valued at $1,771,886 over the last ninety days. 7.70% of the stock is owned by corporate insiders.

ViaSat Company Profile

ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.

Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

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