Hi Line Capital Management LLC Sells 39,309 Shares of Viasat Inc. $VSAT

Hi Line Capital Management LLC lowered its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 15.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 211,050 shares of the communications equipment provider’s stock after selling 39,309 shares during the quarter. Viasat makes up about 2.4% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Hi Line Capital Management LLC’s holdings in Viasat were worth $7,273,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Viasat during the fourth quarter valued at about $36,000. Danske Bank A S bought a new stake in Viasat during the fourth quarter valued at about $47,000. Activest Wealth Management bought a new stake in Viasat during the third quarter valued at about $44,000. Finally, Larson Financial Group LLC boosted its position in Viasat by 7,380.0% during the third quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 2,214 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.

Insider Transactions at Viasat

In other news, SVP Craig Andrew Miller sold 5,260 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the completion of the transaction, the senior vice president directly owned 21,252 shares in the company, valued at $1,062,600. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the transaction, the senior vice president owned 38,108 shares of the company’s stock, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,071 shares of company stock worth $1,804,437 over the last three months. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

VSAT has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Raymond James Financial set a $74.00 price target on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. B. Riley Financial raised their price target on Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Barclays raised Viasat from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $49.00 in a report on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and raised their price target 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 assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Viasat presently has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Viasat Trading Up 6.1%

Shares of NASDAQ:VSAT opened at $75.27 on Thursday. Viasat Inc. has a 52-week low of $8.61 and a 52-week high of $75.72. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of -29.06 and a beta of 1.66. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $57.74 and a 200-day moving average price of $46.11.

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.