Cove Street Capital: “Viasat (VSAT) Seems to be Either our Biggest Winner or Loser Every Quarter”

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -13.70% compared to -17.20% for the Russell 2000 Index and -15.28% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Cove Street Capital discussed stocks like Viasat, Inc. (NASDAQ:VSAT). Headquartered in Carlsbad, California, Viasat, Inc. (NASDAQ:VSAT) is a broadband and communication services and products provider. On August 26, 2022, Viasat, Inc. (NASDAQ:VSAT) stock closed at $38.58 per share. One-month return of Viasat, Inc. (NASDAQ:VSAT) rose to 17.16%, and its shares lost 26.16% of their value over the last 52 weeks. Viasat, Inc. (NASDAQ:VSAT) has a market capitalization of $2.915 billion.

Here is what Cove Street Capital specifically said about Viasat, Inc. (NASDAQ:VSAT):

“Viasat, Inc. (NASDAQ:VSAT) seems to be either our biggest winner or loser every quarter – annoyingly. The much-delayed launch of the first of three next generational satellites will be at the end of this summer and that event should end this yo-yo in the stock and put us on a more sustainable path in the eyes of the world. Oh, and we think the defense business alone is worth nearly 2x the current price of the stock.”

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Viasat, Inc. (NASDAQ:VSAT) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Viasat, Inc. (NASDAQ:VSAT) was held by 18 hedge fund portfolios at the end of the second quarter compared to 17 in the previous quarter.

We discussed Viasat, Inc. (NASDAQ:VSAT) in another article and shared the list of airline stocks to buy in August. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.