Gilat Satellite Networks Ltd. (NASDAQ:GILT) Stake Lessened by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 31.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,119 shares of the communications equipment provider's stock after selling 65,035 shares during the period. Two Sigma Investments LP owned approximately 0.25% of Gilat Satellite Networks worth $886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GILT. LBP AM SA boosted its holdings in shares of Gilat Satellite Networks by 83.9% in the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider's stock valued at $2,136,000 after purchasing an additional 158,468 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Gilat Satellite Networks by 279.0% in the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider's stock worth $839,000 after buying an additional 100,396 shares during the period. Foundry Partners LLC boosted its holdings in Gilat Satellite Networks by 9.0% in the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider's stock valued at $5,593,000 after acquiring an additional 75,260 shares during the last quarter. Jane Street Group LLC purchased a new stake in Gilat Satellite Networks during the fourth quarter valued at about $421,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Gilat Satellite Networks by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider's stock worth $1,329,000 after acquiring an additional 65,374 shares during the last quarter. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen lowered Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Tuesday, May 20th.

Gilat Satellite Networks Stock Up 5.0%

Shares of NASDAQ:GILT traded up $0.30 during midday trading on Tuesday, hitting $6.33. 504,320 shares of the company's stock traded hands, compared to its average volume of 320,393. The firm's fifty day moving average price is $6.10 and its two-hundred day moving average price is $6.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $8.05. The company has a market cap of $360.92 million, a PE ratio of 14.39 and a beta of 0.32.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its quarterly earnings data 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). Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. The company had revenue of $92.04 million for the quarter, compared to analyst estimates of $100.67 million. On average, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal 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.