Mountain Lake Investment Management LLC trimmed its holdings in Viasat, Inc. (NASDAQ:VSAT) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,500 shares of the communications equipment provider’s stock after selling 20,500 shares during the period. Viasat makes up 7.5% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Mountain Lake Investment Management LLC owned approximately 0.41% of Viasat worth $13,436,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in VSAT. Vantage Consulting Group Inc purchased a new position in Viasat in the 4th quarter valued at approximately $27,000. Bedel Financial Consulting Inc. purchased a new position in Viasat in the 1st quarter valued at approximately $48,000. Eaton Vance Management bought a new position in Viasat in the 1st quarter valued at $48,000. Point72 Hong Kong Ltd bought a new position in Viasat in the 1st quarter valued at $56,000. Finally, FORA Capital LLC bought a new position in Viasat in the 1st quarter valued at $66,000. Institutional investors and hedge funds own 82.82% of the company’s stock.
VSAT has been the subject of several analyst reports. Raymond James raised shares of Viasat from an “outperform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Thursday, April 1st. Needham & Company LLC initiated coverage on shares of Viasat in a report on Tuesday, June 22nd. They issued a “buy” rating and a $54.00 price target for the company. Morgan Stanley raised their price target on shares of Viasat from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, June 7th. Zacks Investment Research downgraded shares of Viasat from a “hold” rating to a “sell” rating and set a $51.00 price target for the company. in a report on Monday, April 12th. Finally, TheStreet raised shares of Viasat from a “d+” rating to a “c” rating in a report on Tuesday, May 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Viasat currently has an average rating of “Buy” and a consensus price target of $62.00.
Viasat (NASDAQ:VSAT) last issued its earnings results on Monday, May 24th. The communications equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $607.97 million. Viasat had a net margin of 0.16% and a return on equity of 0.16%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Equities analysts anticipate that Viasat, Inc. will post 0.38 EPS for the current year.
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment, internet, and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and advanced software and communication infrastructure services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.
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