Gabelli Funds LLC Increases Holdings in Viasat Inc. $VSAT

Gabelli Funds LLC grew its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 254.2% in the 4th quarter, HoldingsChannel reports. The firm owned 41,800 shares of the communications equipment provider’s stock after acquiring an additional 30,000 shares during the quarter. Gabelli Funds LLC’s holdings in Viasat were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brightline Capital Management LLC increased its position in shares of Viasat by 1.8% during the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after purchasing an additional 36,000 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Viasat during the 3rd quarter valued at $4,230,000. Hudson Bay Capital Management LP purchased a new stake in shares of Viasat during the 3rd quarter valued at $7,325,000. Principal Financial Group Inc. increased its position in shares of Viasat by 52.5% during the 3rd quarter. Principal Financial Group Inc. now owns 647,168 shares of the communications equipment provider’s stock valued at $18,962,000 after purchasing an additional 222,690 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Viasat by 38.5% during the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after purchasing an additional 1,033,194 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC lifted their price objective on Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. B. Riley Financial lifted their price objective on Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $48.00 in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Insider Activity

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the sale, the senior vice president owned 25,431 shares in the company, valued at approximately $1,175,166.51. This trade represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert James Blair sold 30,411 shares of Viasat stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the sale, the senior vice president owned 38,108 shares of the company’s stock, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,071 shares of company stock worth $1,804,437. 2.20% of the stock is currently owned by insiders.

Viasat Stock Performance

Shares of VSAT opened at $74.56 on Friday. The company has a market cap of $10.13 billion, a PE ratio of -28.79 and a beta of 1.66. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average price of $58.79 and a 200-day moving average price of $46.52. Viasat Inc. has a 12-month low of $8.61 and a 12-month high of $77.76.

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.