Apis Capital Advisors LLC Purchases Shares of 70,000 Gilat Satellite Networks Ltd. $GILT

Key Points

• Apis Capital Advisors LLC has acquired 70,000 shares of Gilat Satellite Networks, valued at approximately $444,000, representing a 0.12% stake in the company.
• Several institutional investors have increased their investments in Gilat Satellite Networks, with total institutional ownership now at 35.72%.
• Gilat Satellite Networks reported earnings of $0.21 per share for the quarter, significantly exceeding the consensus estimate of $0.04.

Apis Capital Advisors LLC acquired a new position in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,000 shares of the communications equipment provider's stock, valued at approximately $444,000. Apis Capital Advisors LLC owned approximately 0.12% of Gilat Satellite Networks at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Inspire Advisors LLC bought a new stake in Gilat Satellite Networks in the first quarter worth $308,000. Royce & Associates LP bought a new stake in Gilat Satellite Networks during the first quarter valued at about $4,434,000. Bank of America Corp DE boosted its holdings in Gilat Satellite Networks by 83.4% during the fourth quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider's stock valued at $305,000 after acquiring an additional 22,515 shares during the period. Lazard Asset Management LLC boosted its holdings in Gilat Satellite Networks by 62.9% during the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock valued at $1,028,000 after acquiring an additional 64,610 shares during the period. Finally, LBP AM SA boosted its holdings in Gilat Satellite Networks by 22.3% during the first quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider's stock valued at $2,697,000 after acquiring an additional 77,429 shares during the period. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded up $0.12 during mid-day trading on Wednesday, hitting $9.47. 369,873 shares of the stock were exchanged, compared to its average volume of 880,156. The company has a market cap of $541.78 million, a P/E ratio of 24.28 and a beta of 0.51. The stock's fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $7.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. Gilat Satellite Networks Ltd. has a twelve month low of $4.30 and a twelve month high of $10.09.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.17. The firm had revenue of $105.00 million during the quarter, compared to analysts' expectations of $100.99 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. As a group, analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GILT shares. Needham & Company LLC upped their price target on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research upgraded shares of Gilat Satellite Networks to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Gilat Satellite Networks currently has an average rating of "Buy" and an average target price of $11.00.

Gilat Satellite Networks Company Profile

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.