Wellington Management Group LLP Sells 104,800 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Wellington Management Group LLP lowered its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,365,238 shares of the communications equipment provider's stock after selling 104,800 shares during the period. Wellington Management Group LLP owned 2.39% of Gilat Satellite Networks worth $8,396,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd bought a new position in Gilat Satellite Networks during the fourth quarter worth about $29,000. Quarry LP acquired a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $85,000. Boothbay Fund Management LLC acquired a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $86,000. Finally, Heron Bay Capital Management acquired a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $88,000. Institutional investors own 35.72% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GILT shares. Wall Street Zen downgraded shares of Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research report on Wednesday, May 28th. 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.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded up $0.12 during midday trading on Friday, reaching $5.98. The company's stock had a trading volume of 256,484 shares, compared to its average volume of 317,780. 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 fifty-two week low of $4.04 and a fifty-two week high of $8.05. The business's 50 day moving average price is $6.09 and its two-hundred day moving average price is $6.41. The company 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 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). Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. The firm had revenue of $92.04 million for the quarter, compared to analyst estimates of $100.67 million. On average, analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

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.