Gilat Satellite Networks Ltd. $GILT Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,028,620 shares of the communications equipment provider’s stock after selling 169,940 shares during the quarter. Royce & Associates LP owned 1.80% of Gilat Satellite Networks worth $13,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd lifted its holdings in shares of Gilat Satellite Networks by 913.0% in the 4th quarter. Y.D. More Investments Ltd now owns 403,746 shares of the communications equipment provider’s stock valued at $5,235,000 after buying an additional 363,890 shares during the period. LBP AM SA lifted its holdings in shares of Gilat Satellite Networks by 31.7% in the 4th quarter. LBP AM SA now owns 961,719 shares of the communications equipment provider’s stock valued at $12,445,000 after buying an additional 231,258 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Gilat Satellite Networks in the 4th quarter valued at about $1,693,000. Penserra Capital Management LLC lifted its holdings in shares of Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after buying an additional 1,064,959 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Gilat Satellite Networks by 118.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock valued at $51,992,000 after buying an additional 2,250,000 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Down 2.2%

NASDAQ:GILT opened at $17.43 on Thursday. Gilat Satellite Networks Ltd. has a 12 month low of $5.46 and a 12 month high of $20.93. The stock has a 50 day moving average of $17.28 and a two-hundred day moving average of $15.58. The firm has a market cap of $1.29 billion, a P/E ratio of 34.18 and a beta of 1.05.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%.The company had revenue of $110.47 million during the quarter. On average, research analysts forecast that Gilat Satellite Networks Ltd. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GILT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Freedom Capital raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Insider Buying and Selling

In other news, CEO Adi Sfadia sold 48,978 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total value of $825,279.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Doron Kerbel sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. The SEC filing for this sale provides additional information. 1.13% of the stock is owned by corporate insiders.

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.