Russell Investments Group Ltd. purchased a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 87,875 shares of the communications equipment provider's stock, valued at approximately $558,000. Russell Investments Group Ltd. owned approximately 0.15% of Gilat Satellite Networks as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in GILT. Blue Bell Private Wealth Management LLC purchased a new position in Gilat Satellite Networks during the first quarter worth about $67,000. Boothbay Fund Management LLC purchased a new position in Gilat Satellite Networks in the fourth quarter valued at about $86,000. Ritholtz Wealth Management purchased a new position in Gilat Satellite Networks in the first quarter valued at about $111,000. Hennessy Advisors Inc. purchased a new position in Gilat Satellite Networks in the first quarter valued at about $139,000. Finally, PDT Partners LLC increased its holdings in Gilat Satellite Networks by 8.4% in the fourth quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider's stock valued at $183,000 after buying an additional 2,305 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.
Gilat Satellite Networks Price Performance
Shares of GILT stock traded up $0.08 during trading hours on Friday, hitting $9.97. The company's stock had a trading volume of 540,533 shares, compared to its average volume of 667,690. The business has a fifty day moving average of $8.32 and a 200-day moving average of $7.08. The stock has a market cap of $570.40 million, a price-to-earnings ratio of 25.56 and a beta of 0.51. Gilat Satellite Networks Ltd. has a twelve month low of $4.30 and a twelve month high of $10.09. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18.
Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.17. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.
Analysts Set New Price Targets
GILT has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research raised shares of Gilat Satellite Networks to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $11.00.
Read Our Latest Analysis on GILT
About Gilat Satellite Networks
(
Free Report)
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.
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