Inspire Investing LLC Sells 25,096 Shares of Gilat Satellite Networks Ltd. $GILT

Key Points

• Inspire Investing LLC has reduced its stake in Gilat Satellite Networks Ltd. by 17.9%, owning about 0.20% of the company valued at $732,000 after selling 25,096 shares.
• The stock of Gilat Satellite Networks has seen significant institutional interest, with several firms increasing their holdings, including a 83.4% increase by Bank of America Corp DE.
• Gilat Satellite Networks reported an earnings per share (EPS) of $0.21, surpassing analysts' expectations of $0.04, indicating strong quarterly performance.

Inspire Investing LLC decreased its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 17.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 115,344 shares of the communications equipment provider's stock after selling 25,096 shares during the period. Inspire Investing LLC owned about 0.20% of Gilat Satellite Networks worth $732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC purchased a new stake in Gilat Satellite Networks in the first quarter worth $67,000. State of Wyoming purchased a new position in Gilat Satellite Networks during the first quarter valued at $101,000. Flaharty Asset Management LLC purchased a new position in Gilat Satellite Networks during the first quarter valued at $108,000. Ritholtz Wealth Management purchased a new position in Gilat Satellite Networks during the first quarter valued at $111,000. Finally, Walleye Capital LLC purchased a new position in Gilat Satellite Networks during the first quarter valued at $111,000. Institutional investors own 35.72% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GILT. Zacks Research raised Gilat Satellite Networks to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Needham & Company LLC lifted their price objective on Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $11.00.

Gilat Satellite Networks Stock Performance

Shares of Gilat Satellite Networks stock traded up $0.17 during trading hours on Thursday, reaching $11.31. 471,005 shares of the stock traded hands, compared to its average volume of 499,974. Gilat Satellite Networks Ltd. has a one year low of $4.69 and a one year high of $11.60. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $647.07 million, a price-to-earnings ratio of 28.96 and a beta of 0.51. The company has a 50 day moving average price of $8.92 and a 200 day moving average price of $7.28.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The company had revenue of $105.00 million for the quarter, compared to analysts' expectations of $100.99 million. On average, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share 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.