Brookside Capital Management buys $113,142,450 stake in ViaSat (VSAT)

ViaSat (VSAT) : Brookside Capital Management scooped up 178,866 additional shares in ViaSat during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,522,164 shares of ViaSat which is valued at $113,142,450.ViaSat makes up approximately 4.30% of Brookside Capital Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp sold out all of its stake in VSAT during the most recent quarter. The investment firm sold 32,343 shares of VSAT which is valued $2,404,055. Lord Abbett sold out all of its stake in VSAT during the most recent quarter. The investment firm sold 61,478 shares of VSAT which is valued $4,569,660. Pacer Advisors added VSAT to its portfolio by purchasing 3,533 company shares during the most recent quarter which is valued at $262,608. ViaSat makes up approx 0.04% of Pacer Advisors’s portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys added VSAT to its portfolio by purchasing 8,667 company shares during the most recent quarter which is valued at $644,218. ViaSat makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.

ViaSat opened for trading at $75.12 and hit $75.84 on the upside on Thursday, eventually ending the session at $75.58, with a gain of 0.72% or 0.54 points. The heightened volatility saw the trading volume jump to 2,95,820 shares. Company has a market cap of $3,725 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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