Y.D. More Investments Ltd Has $10.56 Million Stock Position in Gilat Satellite Networks Ltd. $GILT

Y.D. More Investments Ltd increased its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 77.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 715,697 shares of the communications equipment provider’s stock after acquiring an additional 311,951 shares during the quarter. Y.D. More Investments Ltd owned about 0.97% of Gilat Satellite Networks worth $10,560,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in Gilat Satellite Networks in the 1st quarter valued at $48,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Gilat Satellite Networks in the first quarter valued at about $169,000. Yelin Lapidot Holdings Management Ltd. grew its position in Gilat Satellite Networks by 255.6% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 645,549 shares of the communications equipment provider’s stock worth $9,696,000 after buying an additional 464,000 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Gilat Satellite Networks by 184.8% during the first quarter. Assenagon Asset Management S.A. now owns 371,473 shares of the communications equipment provider’s stock worth $5,494,000 after buying an additional 241,042 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in Gilat Satellite Networks by 140.9% during the first quarter. Hanson & Doremus Investment Management now owns 9,404 shares of the communications equipment provider’s stock valued at $141,000 after acquiring an additional 5,500 shares during the period. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilat Satellite Networks

In other news, insider Arieh Rohrstock sold 17,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $15.23, for a total transaction of $267,560.64. Following the completion of the sale, the insider owned 7,531 shares of the company’s stock, valued at approximately $114,697.13. This trade represents a 69.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

GILT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Thursday, June 18th. Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gilat Satellite Networks has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ:GILT opened at $12.01 on Monday. The company’s fifty day moving average is $15.07 and its 200-day moving average is $16.02. Gilat Satellite Networks Ltd. has a 52 week low of $7.22 and a 52 week high of $20.93. The company has a market capitalization of $886.71 million, a PE ratio of 23.55 and a beta of 1.04.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 11.65%. The business had revenue of $110.47 million during the quarter. On average, analysts forecast that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current year.

Gilat Satellite Networks Company 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.