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Cove Street Small Cap Value Fund Considers Viasat (VSAT) a Cheap Stock With Multiple Catalysts

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 1.61% compared to 5.18% for the Russell 2000 Index and 2.90% for the Russell 2000 Value Index. The first quarter of calendar year 2024 was mostly more of the recent same. US investors focused on the Federal Reserve’s comments and still expecting interest rate cuts in 2024. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Cove Street Small Cap Value Fund featured stocks like Viasat, Inc. (NASDAQ:VSAT) in the first quarter 2024 investor letter. Headquartered in Carlsbad, California, Viasat, Inc. (NASDAQ:VSAT) engages in providing communications technologies and services. On April 10, 2024, Viasat, Inc. (NASDAQ:VSAT) stock closed at $16.89 per share. One-month return of Viasat, Inc. (NASDAQ:VSAT) was -0.65%, and its shares lost 50.94% of their value over the last 52 weeks. Viasat, Inc. (NASDAQ:VSAT) has a market capitalization of $2.117 billion.

Cove Street Small Cap Value Fund stated the following regarding Viasat, Inc. (NASDAQ:VSAT) in its first quarter 2024 investor letter:

"Regarding Viasat, Inc. (NASDAQ:VSAT), we do not have much to say here other than up quarter/down quarter performance prevails as the company awaits the launch of its next satellite of capacity. The company continues to be an outstandingly cheap stock with multiple catalysts."

A telecommunications tower reaching high into the sky, connected to a satellite system.

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Viasat, Inc. (NASDAQ:VSAT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Viasat, Inc. (NASDAQ:VSAT) was held by 15 hedge fund portfolios, compared to 18 in the previous quarter, according to our database.

We discussed Viasat, Inc. (NASDAQ:VSAT) in another article and shared the list of largest satellite companies in the world. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

 

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