Is ViaSat, Inc. (VSAT) A Good Stock To Buy?

As one would reasonably expect, key money managers were breaking ground themselves. Cove Street Capital created the most outsized position in ViaSat, Inc. (NASDAQ:VSAT). Cove Street Capital had $46.5 million invested in the company at the end of the quarter. Robert Pitts’ Steadfast Capital Management also made a $28 million investment in the stock during the quarter. The following funds were also among the new VSAT investors: Jim Simons’ Renaissance Technologies, George McCabe’s Portolan Capital Management, and Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as ViaSat, Inc. (NASDAQ:VSAT) but similarly valued. We will take a look at HEALTHSOUTH Corp. (NYSE:HLS), Leidos Holdings Inc (NYSE:LDOS), ONE Gas Inc (NYSE:OGS), and Endo Health Solutions Inc (NASDAQ:ENDP). This group of stocks’ market caps resemble VSAT’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $513 million. That figure was $1.88 billion in VSAT’s case. Endo Health Solutions Inc (NASDAQ:ENDP) is the most popular stock in this table. On the other hand ONE Gas Inc (NYSE:OGS) is the least popular one with only 11 bullish hedge fund positions. ViaSat, Inc. (NASDAQ:VSAT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ENDP might be a better candidate to consider taking a long position in.

Disclosure: None