Fpr Partners Lowers stake in ViaSat (VSAT)

ViaSat (VSAT) : Fpr Partners reduced its stake in ViaSat by 24.31% during the most recent quarter end. The investment management company now holds a total of 4,540,096 shares of ViaSat which is valued at $365,886,337 after selling 1,457,824 shares in ViaSat , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.ViaSat makes up approximately 8.39% of Fpr Partners’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies reduced its stake in VSAT by selling 4,975 shares or 39.56% in the most recent quarter. The Hedge Fund company now holds 7,600 shares of VSAT which is valued at $612,484. ViaSat makes up approx 0.04% of Cubist Systematic Strategies’s portfolio.Profund Advisors boosted its stake in VSAT in the latest quarter, The investment management firm added 318 additional shares and now holds a total of 7,760 shares of ViaSat which is valued at $618,239. ViaSat makes up approx 0.03% of Profund Advisors’s portfolio.Emerald Acquisition Ltd. reduced its stake in VSAT by selling 14,800 shares or 19.58% in the most recent quarter. The Hedge Fund company now holds 60,780 shares of VSAT which is valued at $4,768,191. ViaSat makes up approx 0.01% of Emerald Acquisition Ltd.’s portfolio.California Public Employees Retirement System reduced its stake in VSAT by selling 6,100 shares or 5.77% in the most recent quarter. The Hedge Fund company now holds 99,700 shares of VSAT which is valued at $7,256,166. ViaSat makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

ViaSat opened for trading at $73.9 and hit $73.9 on the upside on Monday, eventually ending the session at $72.97, with a gain of 4.63% or 3.23 points. The heightened volatility saw the trading volume jump to 46,10,300 shares. Company has a market cap of $3,611 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 Downgraded by Macquarie to ” Underperform” on Nov 16, 2016. Company shares were Reiterated by Wunderlich on Nov 9, 2016 to “Sell”, Firm has raised the Price Target to $ 58 from a previous price target of $50 .

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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