Lbp Am Sa Buys 141,378 Shares of Gilat Satellite Networks Ltd. $GILT

Key Points

• Lbp Am Sa increased its stake in Gilat Satellite Networks Ltd. by 33.3%, acquiring an additional 141,378 shares during the second quarter, bringing its total holdings to 566,075 shares valued at approximately $4 million.
• The company recently reported earnings of $0.21 per share, exceeding analysts' estimates of $0.04, with total revenue of $105 million for the quarter.
• Brokerages have varied ratings for Gilat, with Needham & Company raising its target price from $8.50 to $11.00 and Zacks Research upgrading it to a strong-buy rating.

Lbp Am Sa boosted its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 33.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 566,075 shares of the communications equipment provider's stock after acquiring an additional 141,378 shares during the quarter. Lbp Am Sa owned approximately 0.99% of Gilat Satellite Networks worth $4,013,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC bought a new stake in Gilat Satellite Networks during the 1st quarter worth about $67,000. State of Wyoming bought a new stake in Gilat Satellite Networks during the 1st quarter worth about $101,000. Flaharty Asset Management LLC bought a new stake in Gilat Satellite Networks during the 1st quarter worth about $108,000. Walleye Capital LLC bought a new stake in Gilat Satellite Networks during the 1st quarter worth about $111,000. Finally, Ritholtz Wealth Management bought a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $111,000. Institutional investors own 35.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GILT. Wall Street Zen lowered shares of Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 26th. Needham & Company LLC raised their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Zacks Research raised shares of Gilat Satellite Networks to a "strong-buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average price target of $11.00.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ:GILT opened at $13.59 on Friday. The company has a market capitalization of $777.51 million, a price-to-earnings ratio of 34.85 and a beta of 0.58. The firm's 50 day simple moving average is $9.91 and its 200 day simple moving average is $7.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.82 and a fifty-two week high of $13.99.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.17. The business had revenue of $105.00 million for the quarter, compared to the consensus estimate 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, sell-side analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current 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.

Want to see what other hedge funds are holding GILT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.