Meitav Investment House Ltd. Trims Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Meitav Investment House Ltd. reduced its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 0.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,119,353 shares of the communications equipment provider’s stock after selling 2,200 shares during the period. Meitav Investment House Ltd.’s holdings in Gilat Satellite Networks were worth $6,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILT. Van ECK Associates Corp boosted its holdings in 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 valued at $839,000 after purchasing an additional 100,396 shares during the last quarter. Inspire Investing LLC acquired a new stake in Gilat Satellite Networks during the fourth quarter worth about $864,000. Tidal Investments LLC grew its holdings in Gilat Satellite Networks by 4.6% during the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock worth $335,000 after acquiring an additional 2,812 shares during the period. Virtu Financial LLC purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $61,000. Finally, Clearline Capital LP lifted its holdings in Gilat Satellite Networks by 510.5% in the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GILT. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Thursday, February 13th.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $7.78 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $7.78. The stock has a 50-day moving average of $6.62 and a 200 day moving average of $5.58. The stock has a market capitalization of $443.62 million, a price-to-earnings ratio of 17.68 and a beta of 0.60.

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