Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Purchased by Lbp Am Sa

LBP AM SA boosted its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 22.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 424,697 shares of the communications equipment provider's stock after purchasing an additional 77,429 shares during the period. LBP AM SA owned approximately 0.74% of Gilat Satellite Networks worth $2,697,000 at the end of the most recent reporting period.

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

Gilat Satellite Networks Stock Down 2.0%

Shares of NASDAQ:GILT traded down $0.15 during trading hours on Monday, hitting $7.38. The company's stock had a trading volume of 406,332 shares, compared to its average volume of 319,423. The firm's fifty day moving average price is $6.45 and its 200 day moving average price is $6.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.41 and a quick ratio of 1.06. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.07. The company has a market capitalization of $420.79 million, a price-to-earnings ratio of 30.75 and a beta of 0.40.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on GILT shares. Needham & Company LLC restated a "buy" rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th. Wall Street Zen cut shares of 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.