Heron Bay Capital Management Makes New Investment in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Heron Bay Capital Management purchased a new position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 14,386 shares of the communications equipment provider’s stock, valued at approximately $88,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Gilat Satellite Networks during the 3rd quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in Gilat Satellite Networks during the 3rd quarter worth approximately $61,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Gilat Satellite Networks during the 4th quarter worth approximately $85,000. GSA Capital Partners LLP purchased a new position in Gilat Satellite Networks during the 3rd quarter worth approximately $140,000. Finally, PDT Partners LLC grew its position in Gilat Satellite Networks by 51.1% during the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 9,287 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Down 1.5 %

Gilat Satellite Networks stock opened at $6.60 on Friday. The company’s fifty day simple moving average is $7.06 and its 200-day simple moving average is $5.97. 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 Ltd. has a 12 month low of $4.04 and a 12 month high of $8.05. The stock has a market cap of $376.31 million, a P/E ratio of 15.00 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GILT has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th. StockNews.com cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

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.