ViaSat, Inc. (VSAT) Position Maintained by Cohen Klingenstein LLC
Cohen Klingenstein LLC continued to hold its stake in ViaSat, Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,948 shares of the communications equipment provider’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in ViaSat were worth $923,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in VSAT. Neuburgh Advisers LLC increased its stake in ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 272 shares in the last quarter. Quantbot Technologies LP purchased a new stake in ViaSat during the first quarter valued at about $105,000. Glen Harbor Capital Management LLC increased its stake in ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 374 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in ViaSat during the first quarter valued at about $163,000. Finally, Elkfork Partners LLC increased its stake in ViaSat by 20.5% in the first quarter. Elkfork Partners LLC now owns 2,800 shares of the communications equipment provider’s stock valued at $179,000 after buying an additional 476 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ViaSat, Inc. (VSAT) traded up 0.48% during trading on Monday, reaching $64.99. The company’s stock had a trading volume of 328,270 shares. The stock’s 50 day moving average price is $67.23 and its 200-day moving average price is $65.94. The firm has a market cap of $3.75 billion, a PE ratio of 144.42 and a beta of 0.69. ViaSat, Inc. has a 12 month low of $61.85 and a 12 month high of $82.19.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, May 23rd. The communications equipment provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $416.40 million during the quarter, compared to analyst estimates of $400.90 million. ViaSat had a net margin of 1.52% and a return on equity of 2.07%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities analysts predict that ViaSat, Inc. will post $0.34 EPS for the current year.
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Several analysts have issued reports on the company. Royal Bank Of Canada set a $48.00 target price on ViaSat and gave the company a “sell” rating in a research report on Saturday, May 6th. B. Riley reaffirmed a “buy” rating and issued a $89.00 target price on shares of ViaSat in a research report on Tuesday, May 30th. Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 target price (down previously from $82.00) on shares of ViaSat in a research report on Monday, July 10th. Wunderlich raised ViaSat from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $74.00 target price on shares of ViaSat in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $76.45.
In other ViaSat news, Director John P. Stenbit sold 700 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $64.78, for a total value of $45,346.00. Following the completion of the sale, the director now owns 8,700 shares in the company, valued at approximately $563,586. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey M. Nash sold 5,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $71.76, for a total transaction of $358,800.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $358,800. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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