Wellington Management Group LLP Lowers Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Wellington Management Group LLP reduced its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,365,238 shares of the communications equipment provider's stock after selling 104,800 shares during the quarter. Wellington Management Group LLP owned approximately 2.39% of Gilat Satellite Networks worth $8,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Gilat Satellite Networks during the 4th quarter worth $226,000. Van ECK Associates Corp raised its holdings in Gilat Satellite Networks by 279.0% in the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider's stock valued at $839,000 after acquiring an additional 100,396 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Gilat Satellite Networks by 62.9% during the 4th quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock worth $1,028,000 after acquiring an additional 64,610 shares in the last quarter. Diametric Capital LP grew its holdings in Gilat Satellite Networks by 38.5% during the 4th quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider's stock worth $238,000 after acquiring an additional 10,759 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at $132,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Gilat Satellite Networks Stock Up 2.0%

NASDAQ GILT traded up $0.12 during trading on Friday, reaching $5.98. 256,484 shares of the company's stock were exchanged, compared to its average volume of 318,764. The company has a 50 day moving average price of $6.09 and a two-hundred day moving average price of $6.41. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The stock has a market cap of $340.96 million, a P/E ratio of 13.59 and a beta of 0.32.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings results 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). 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.

Wall Street Analysts Forecast Growth

GILT has been the topic of a number of analyst reports. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Tuesday, May 20th.

Gilat Satellite Networks Profile

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.