Cove Street Capital Lowers stake in ViaSat (VSAT)

ViaSat (VSAT) : Cove Street Capital reduced its stake in ViaSat by 16.7% during the most recent quarter end. The investment management company now holds a total of 515,873 shares of ViaSat which is valued at $38.9 Million after selling 103,410 shares in ViaSat , the firm said in a disclosure report filed with the SEC on May 12, 2016.ViaSat makes up approximately 5.23% of Cove Street Capital’s portfolio.

Other Hedge Funds, Including , 1832 Asset Management boosted its stake in VSAT in the latest quarter, The investment management firm added 115,076 additional shares and now holds a total of 430,176 shares of ViaSat which is valued at $32.4 Million. ViaSat makes up approx 0.13% of 1832 Asset Management’s portfolio.Teacher Retirement System Of Texas boosted its stake in VSAT in the latest quarter, The investment management firm added 1,444 additional shares and now holds a total of 5,640 shares of ViaSat which is valued at $425,200.Thompson Siegel Walmsley reduced its stake in VSAT by selling 50 shares or 33.33% in the most recent quarter. The Hedge Fund company now holds 100 shares of VSAT which is valued at $7,539.Three Peaks Capital Management reduced its stake in VSAT by selling 33,828 shares or 39.42% in the most recent quarter. The Hedge Fund company now holds 51,976 shares of VSAT which is valued at $3.9 Million. ViaSat makes up approx 0.71% of Three Peaks Capital Management’s portfolio.

ViaSat opened for trading at $73.16 and hit $74.25 on the upside on Friday, eventually ending the session at $74, with a gain of 1.79% or 1.3 points. The heightened volatility saw the trading volume jump to 2,12,326 shares. Company has a market cap of $3,616,454 M.

On the company’s financial health, ViaSat reported $0.40 EPS for the quarter, based on the information available during the earnings call on Feb 9, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $347.80 million for the quarter, compared to analysts expectations of $365.11 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

ViaSat Inc. is a technology company engaged in broadband technologies and services including satellite and wireless networking applications and secure networking systems products and services. The Company conducts its business through three segments: satellite services commercial networks and government systems. The Company conducts its business through three segments: satellite services which provides retail and wholesale satellite-based broadband services for its consumer enterprise and mobile broadband customers in the United States; commercial networks which develops and produces satellite and other wireless communication systems and ground networking equipment and products that address five market segments: consumer enterprise in-flight maritime and ground mobile applications and government systems which develops and produces network-centric Internet Protocol (IP)-based fixed and mobile secure government communications systems products services and solutions.

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