Precision Wealth Strategies LLC Invests $1.10 Million in Gilat Satellite Networks Ltd. $GILT

Key Points

• Precision Wealth Strategies LLC bought a new position of 85,129 shares in Gilat Satellite Networks worth about $1.10 million (≈0.15% of the company) in the fourth quarter, while several other institutional investors also materially increased holdings, leaving institutional ownership at about 35.72%.
• Corporate insiders have been selling recently: CEO Adi Sfadia sold 48,978 shares for roughly $825k and director Doron Kerbel sold 7,500 shares, with insiders owning about 1.13% of the stock.
• Gilat beat quarterly estimates (EPS $0.20 vs. $0.13) and the stock trades near $18.06, with analysts' consensus a “Moderate Buy” and a $20.00 price target.

Precision Wealth Strategies LLC acquired a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 85,129 shares of the communications equipment provider's stock, valued at approximately $1,102,000. Precision Wealth Strategies LLC owned about 0.15% of Gilat Satellite Networks as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GILT. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Gilat Satellite Networks by 118.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider's stock valued at $51,992,000 after acquiring an additional 2,250,000 shares during the last quarter. Royce & Associates LP boosted its holdings in Gilat Satellite Networks by 12.4% in the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider's stock valued at $15,605,000 after acquiring an additional 132,599 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Gilat Satellite Networks by 831.1% in the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider's stock valued at $15,533,000 after acquiring an additional 1,064,959 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Gilat Satellite Networks by 62.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider's stock valued at $14,206,000 after acquiring an additional 419,843 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Gilat Satellite Networks by 613.4% in the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider's stock valued at $12,545,000 after acquiring an additional 828,489 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company's stock.

Insider Buying and Selling

In other Gilat Satellite Networks news, CEO Adi Sfadia sold 48,978 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total value of $825,279.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Doron Kerbel sold 7,500 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.03, for a total value of $135,225.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Freedom Capital raised Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Finally, Wall Street Zen lowered Gilat Satellite Networks from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Gilat Satellite Networks currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Gilat Satellite Networks Stock Up 3.0%

GILT traded up $0.52 during trading on Thursday, reaching $18.06. The stock had a trading volume of 110,532 shares, compared to its average volume of 861,962. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 54.73 and a beta of 0.92. Gilat Satellite Networks Ltd. has a 1-year low of $5.43 and a 1-year high of $20.38. The stock has a 50 day moving average of $16.90 and a two-hundred day moving average of $15.15.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.07. The firm had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. On average, research analysts forecast that Gilat Satellite Networks Ltd. will post 0.47 EPS for the current fiscal year.

Gilat Satellite Networks Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company's core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.

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