Lee Danner & Bass Inc. grew its stake in shares of Viasat Inc. (NASDAQ:VSAT – Free Report) by 227.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 832,925 shares of the communications equipment provider’s stock after acquiring an additional 578,425 shares during the period. Viasat comprises about 2.4% of Lee Danner & Bass Inc.’s holdings, making the stock its 7th largest position. Lee Danner & Bass Inc.’s holdings in Viasat were worth $38,148,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of VSAT. Disciplined Growth Investors Inc. MN boosted its stake in Viasat by 15.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock worth $85,338,000 after purchasing an additional 796,349 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Viasat by 22.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,050,883 shares of the communications equipment provider’s stock valued at $139,601,000 after purchasing an additional 743,696 shares in the last quarter. Geode Capital Management LLC raised its holdings in Viasat by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock worth $115,266,000 after buying an additional 273,369 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock worth $111,065,000 after buying an additional 3,112,670 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after buying an additional 1,128,338 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.
Insider Buying and Selling
In related news, Director John P. Stenbit sold 653 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director owned 29,597 shares in the company, valued at approximately $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Dankberg sold 400,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $64.76, for a total value of $25,904,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,082,196 shares in the company, valued at approximately $70,083,012.96. This represents a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 438,275 shares of company stock valued at $28,608,719 over the last ninety days. 2.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Report on Viasat
Viasat Stock Performance
Shares of VSAT stock opened at $83.06 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 12-month low of $14.00 and a 12-month high of $93.03. The stock has a market capitalization of $11.34 billion, a P/E ratio of -286.41 and a beta of 1.70. The firm’s 50 day moving average is $70.08 and its 200 day moving average is $54.14.
Viasat (NASDAQ:VSAT – Get Free Report) last announced its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. Viasat’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Research analysts expect that Viasat Inc. will post -0.39 earnings per share for the current year.
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.
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