Jane Street Group LLC Acquires Shares of 68,405 Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Jane Street Group LLC purchased a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 68,405 shares of the communications equipment provider's stock, valued at approximately $421,000. Jane Street Group LLC owned about 0.12% of Gilat Satellite Networks at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GILT. Covestor Ltd bought a new position in Gilat Satellite Networks during the 4th quarter worth $29,000. Quarry LP acquired a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $85,000. Boothbay Fund Management LLC bought a new position in Gilat Satellite Networks during the fourth quarter worth about $86,000. Finally, Heron Bay Capital Management acquired a new stake in Gilat Satellite Networks in the 4th quarter worth about $88,000. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT traded down $0.12 during trading on Wednesday, reaching $5.98. 483,108 shares of the company traded hands, compared to its average volume of 316,336. The firm has a market capitalization of $340.96 million, a PE ratio of 13.59 and a beta of 0.37. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.05. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $6.12 and its two-hundred day moving average is $6.40.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The company had revenue of $92.04 million during the quarter, compared to analyst estimates of $100.67 million. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. As a group, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

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.