Gilat Satellite Networks Ltd. $GILT Shares Bought by Lbp Am Sa

Lbp Am Sa raised its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 31.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 961,719 shares of the communications equipment provider’s stock after purchasing an additional 231,258 shares during the period. Lbp Am Sa’s holdings in Gilat Satellite Networks were worth $12,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GILT. Cullen Frost Bankers Inc. acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $26,000. USA Financial Formulas acquired a new stake in Gilat Satellite Networks in the 3rd quarter valued at approximately $39,000. Signaturefd LLC raised its position in Gilat Satellite Networks by 104.5% in the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock valued at $53,000 after purchasing an additional 2,105 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gilat Satellite Networks in the third quarter valued at approximately $64,000. Finally, McIlrath & Eck LLC lifted its stake in Gilat Satellite Networks by 383.1% during the third quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 4,586 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Stock Up 1.3%

NASDAQ GILT opened at $18.65 on Friday. Gilat Satellite Networks Ltd. has a 52 week low of $5.43 and a 52 week high of $20.38. The stock has a market capitalization of $1.38 billion, a PE ratio of 56.52 and a beta of 0.92. The firm has a 50 day moving average of $16.43 and a two-hundred day moving average of $14.88.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. On average, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GILT shares. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Finally, Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Insider Buying and Selling at Gilat Satellite Networks

In other news, CEO Adi Sfadia sold 48,978 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Doron Kerbel sold 7,500 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.13% of the company’s stock.

Gilat Satellite Networks Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.