Cove Street Capital LLC Has $11.80 Million Position in Viasat, Inc. (NASDAQ:VSAT)

Cove Street Capital LLC lowered its position in Viasat, Inc. (NASDAQ:VSATFree Report) by 25.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 638,988 shares of the communications equipment provider’s stock after selling 220,203 shares during the period. Viasat makes up about 4.0% of Cove Street Capital LLC’s portfolio, making the stock its 6th largest position. Cove Street Capital LLC owned approximately 0.83% of Viasat worth $11,796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new position in shares of Viasat in the 1st quarter valued at $232,000. JPMorgan Chase & Co. lifted its stake in shares of Viasat by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 119,001 shares of the communications equipment provider’s stock valued at $5,807,000 after purchasing an additional 6,265 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Viasat by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 654,115 shares of the communications equipment provider’s stock valued at $31,920,000 after purchasing an additional 7,336 shares during the period. HighTower Advisors LLC acquired a new position in shares of Viasat in the 1st quarter valued at $215,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Viasat by 35.0% in the 1st quarter. MetLife Investment Management LLC now owns 48,033 shares of the communications equipment provider’s stock valued at $2,344,000 after purchasing an additional 12,442 shares during the period. Hedge funds and other institutional investors own 88.28% of the company’s stock.

Insider Buying and Selling at Viasat

In other news, EVP Keven K. Lippert sold 6,200 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $19.58, for a total value of $121,396.00. Following the completion of the transaction, the executive vice president now owns 24 shares in the company, valued at $469.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 6,500 shares of company stock valued at $128,800. 3.10% of the stock is owned by company insiders.

Viasat Stock Performance

Shares of NASDAQ VSAT traded up $0.54 during mid-day trading on Monday, hitting $20.60. 1,168,983 shares of the company were exchanged, compared to its average volume of 1,079,005. Viasat, Inc. has a 1-year low of $15.02 and a 1-year high of $47.35. The company has a quick ratio of 2.46, a current ratio of 2.71 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $24.51 and a 200-day simple moving average of $23.29. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 2.65 and a beta of 1.40.

Analyst Upgrades and Downgrades

VSAT has been the subject of several recent analyst reports. Needham & Company LLC cut their price target on shares of Viasat from $50.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Viasat in a report on Tuesday, October 17th. They set a “hold” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. raised shares of Viasat from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $35.00 to $30.00 in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.17.

View Our Latest Stock Analysis on VSAT

About Viasat

(Free Report)

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 and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy 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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Institutional Ownership by Quarter for Viasat (NASDAQ:VSAT)

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