Inspire Advisors LLC Takes Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Key Points

• Inspire Advisors LLC has acquired 48,534 shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT), representing approximately $308,000, increasing their stake to 0.09% of the company.
• Gilat Satellite Networks reported earnings of $0.03 per share for the last quarter, missing expectations, and generated revenues of $92.04 million, which fell short of the $100.67 million forecast.
• Analyst ratings for Gilat have varied, with Wall Street Zen downgrading the stock from "buy" to "hold", while Needham & Company maintained a "buy" rating with a price target of $8.50.

Inspire Advisors LLC purchased a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 48,534 shares of the communications equipment provider's stock, valued at approximately $308,000. Inspire Advisors LLC owned about 0.09% of Gilat Satellite Networks at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Gilat Satellite Networks in the 4th quarter valued at $226,000. Bank of America Corp DE raised its holdings in Gilat Satellite Networks by 83.4% in the 4th 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 in the last quarter. Royce & Associates LP acquired a new position in Gilat Satellite Networks in the 1st quarter valued at $4,434,000. Lazard Asset Management LLC raised its holdings in Gilat Satellite Networks by 62.9% in the 4th 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 in the last quarter. Finally, Diametric Capital LP raised its holdings in Gilat Satellite Networks by 38.5% in the 4th quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 10,759 shares in the last quarter. 35.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Tuesday, May 20th.

Gilat Satellite Networks Price Performance

GILT stock traded down $0.11 during midday trading on Friday, reaching $7.37. 167,260 shares of the stock were exchanged, compared to its average volume of 411,115. The stock has a market capitalization of $421.87 million, a PE ratio of 30.73 and a beta of 0.40. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.41 and a quick ratio of 1.06. The company has a fifty day moving average price of $6.83 and a 200 day moving average price of $6.73.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). Gilat Satellite Networks had a return on equity of 8.16% and a net margin of 4.32%. The firm had revenue of $92.04 million for the quarter, compared to the consensus estimate of $100.67 million. As a group, analysts expect that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

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.