Southeastern Asset Management Inctn Lowers stake in ViaSat (VSAT)

ViaSat (VSAT) : Southeastern Asset Management Inctn reduced its stake in ViaSat by 0.88% during the most recent quarter end. The investment management company now holds a total of 4,591,527 shares of ViaSat which is valued at $341,288,202 after selling 40,800 shares in ViaSat , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.ViaSat makes up approximately 3.33% of Southeastern Asset Management Inctn’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in VSAT by selling 7,271 shares or 30.49% in the most recent quarter. The Hedge Fund company now holds 16,575 shares of VSAT which is valued at $1,232,020.Rhumbline Advisers boosted its stake in VSAT in the latest quarter, The investment management firm added 24,844 additional shares and now holds a total of 83,737 shares of ViaSat which is valued at $6,224,171. ViaSat makes up approx 0.02% of Rhumbline Advisers’s portfolio. Pacad Investment Ltd. sold out all of its stake in VSAT during the most recent quarter. The investment firm sold 4,120 shares of VSAT which is valued $306,240. Quantitative Investment Management sold out all of its stake in VSAT during the most recent quarter. The investment firm sold 9,200 shares of VSAT which is valued $668,932.

ViaSat opened for trading at $74.49 and hit $75.2 on the upside on Monday, eventually ending the session at $74.94, with a gain of 0.60% or 0.45 points. The heightened volatility saw the trading volume jump to 1,22,240 shares. Company has a market cap of $3,694 M.

On the company’s financial health, ViaSat reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.29. The company had revenue of $363.10 million for the quarter, compared to analysts expectations of $371.89 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on ViaSat. ViaSat was Initiated by Jefferies to “Hold” on Aug 1, 2016. Company shares were Reiterated by Wunderlich on May 25, 2016 to “Sell”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .ViaSat was Downgraded by Drexel Hamilton to ” Sell” on May 23, 2016.

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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