Y.D. More Investments Ltd Acquires 311,951 Shares of 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 1st quarter, Holdings Channel reports. The institutional investor owned 715,697 shares of the communications equipment provider’s stock after buying an additional 311,951 shares during the period. Y.D. More Investments Ltd’s holdings in Gilat Satellite Networks were worth $10,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd increased its position in Gilat Satellite Networks by 33.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock valued at $71,476,000 after acquiring an additional 1,402,035 shares in the last quarter. Defiance ETFs LLC acquired a new position in shares of Gilat Satellite Networks during the fourth quarter worth approximately $13,555,000. UBS Group AG lifted its position in shares of Gilat Satellite Networks by 613.4% during the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock worth $12,545,000 after purchasing an additional 828,489 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Gilat Satellite Networks by 995.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock valued at $11,755,000 after purchasing an additional 824,949 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Gilat Satellite Networks by 1,205.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 882,983 shares of the communications equipment provider’s stock valued at $11,426,000 after purchasing an additional 815,360 shares during the last quarter. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock opened at $12.01 on Monday. The firm has a market capitalization of $886.71 million, a P/E ratio of 23.55 and a beta of 1.04. The business has a 50-day moving average of $15.07 and a 200-day moving average of $16.02. Gilat Satellite Networks Ltd. has a 1 year low of $7.22 and a 1 year high of $20.93.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 earnings per share 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 for the quarter. Research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Gilat Satellite Networks news, insider Arieh Rohrstock sold 17,568 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $15.23, for a total value of $267,560.64. Following the sale, the insider directly owned 7,531 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.13% of the company’s stock.

Wall Street Analyst Weigh In

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

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.