Lbp Am Sa Has $9.51 Million Holdings in Gilat Satellite Networks Ltd. $GILT

Lbp Am Sa lifted its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 29.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,461 shares of the communications equipment provider’s stock after buying an additional 164,386 shares during the quarter. Lbp Am Sa’s holdings in Gilat Satellite Networks were worth $9,511,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GILT. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks in the third quarter valued at approximately $26,000. USA Financial Formulas acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at $39,000. McIlrath & Eck LLC boosted its position in shares of Gilat Satellite Networks by 383.1% in the 3rd 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 during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth $99,000. Finally, Quadrature Capital Ltd bought a new stake in Gilat Satellite Networks in the second quarter valued at about $125,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GILT. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. Freedom Capital cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Gilat Satellite Networks currently has an average rating of “Hold” and a consensus target price of $16.00.

Gilat Satellite Networks Stock Down 1.2%

Shares of Gilat Satellite Networks stock opened at $18.42 on Tuesday. Gilat Satellite Networks Ltd. has a 52-week low of $5.30 and a 52-week high of $19.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72. The business’s 50 day simple moving average is $13.56 and its 200 day simple moving average is $11.88. The firm has a market cap of $1.05 billion, a PE ratio of 44.93 and a beta of 0.64.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $117.69 million for the quarter, compared to analyst estimates of $112.19 million. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. On average, analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

About Gilat Satellite Networks

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.