Covestor Ltd Makes New Investment in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Covestor Ltd acquired a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,792 shares of the communications equipment provider’s stock, valued at approximately $29,000.

Other large investors have also recently modified their holdings of the company. LBP AM SA grew its position in Gilat Satellite Networks by 83.9% during the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after acquiring an additional 158,468 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $864,000. Van ECK Associates Corp grew its holdings in shares of Gilat Satellite Networks by 279.0% in the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after purchasing an additional 100,396 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Gilat Satellite Networks by 9.0% in the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock worth $5,593,000 after buying an additional 75,260 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Gilat Satellite Networks by 43.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider’s stock valued at $1,329,000 after buying an additional 65,374 shares during the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GILT. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Wednesday, February 26th. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $6.21 on Wednesday. The firm has a market capitalization of $354.08 million, a price-to-earnings ratio of 14.11 and a beta of 0.49. The stock has a fifty day moving average of $6.74 and a 200 day moving average of $6.15. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.05. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. As a group, research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.