Rhumbline Advisers Boosts Holdings in Viasat Inc. $VSAT

Rhumbline Advisers boosted its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,292 shares of the communications equipment provider’s stock after acquiring an additional 69,385 shares during the period. Rhumbline Advisers owned about 0.28% of Viasat worth $10,879,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Viasat by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,387 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 327 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Viasat by 2.4% in the third quarter. Arizona State Retirement System now owns 30,838 shares of the communications equipment provider’s stock worth $904,000 after acquiring an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Viasat by 5.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,370 shares of the communications equipment provider’s stock valued at $418,000 after acquiring an additional 720 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Viasat during the third quarter valued at $25,000. Finally, Salomon & Ludwin LLC purchased a new stake in Viasat during the 3rd quarter worth about $28,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mark D. Dankberg sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $40.34, for a total value of $4,034,000.00. Following the transaction, the chief executive officer directly owned 1,434,993 shares in the company, valued at $57,887,617.62. This trade represents a 6.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $36.38, for a total value of $1,872,842.40. Following the sale, the chief accounting officer owned 6,021 shares of the company’s stock, valued at $219,043.98. The trade was a 89.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 354,290 shares of company stock worth $13,059,722 over the last three months. 2.20% of the stock is owned by insiders.

Viasat Stock Up 1.4%

Shares of VSAT opened at $46.50 on Friday. Viasat Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $49.68. The company’s fifty day moving average is $41.07 and its two-hundred day moving average is $35.57. The firm has a market cap of $6.32 billion, a PE ratio of -17.95 and a beta of 1.47. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VSAT. Raymond James Financial upgraded shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, November 10th. Morgan Stanley set a $51.00 target price on shares of Viasat in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. JPMorgan Chase & Co. raised Viasat from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $50.00 in a research note on Tuesday, November 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of Viasat in a research report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.86.

Viasat Company 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.