Gilat Satellite Networks (NASDAQ:GILT) Insider Sells 7,500 Shares

Key Points

• Insider sale: Doron Kerbel sold 7,500 shares of Gilat on March 20 at an average price of $18.03, totaling $135,225, according to an SEC filing.
• GILT shares opened Monday at $16.25 after an 8.4% decline; the company sports a $1.20 billion market cap, a P/E of 49.24, and a 12‑month range of $5.30 to $20.38.
• Gilat beat quarterly estimates (EPS $0.20 vs. $0.13; revenue $136.96M vs. $133.56M) and faces mixed analyst coverage, averaging a "Moderate Buy" rating with a $20 target.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) insider Doron Kerbel sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $18.03, for a total transaction of $135,225.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Gilat Satellite Networks Stock Down 8.4%

GILT stock opened at $16.25 on Monday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 49.24 and a beta of 0.82. Gilat Satellite Networks Ltd. has a 12 month low of $5.30 and a 12 month high of $20.38. The firm has a 50 day moving average of $16.94 and a two-hundred day moving average of $14.14.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The business had revenue of $136.96 million for the quarter, compared to the consensus estimate of $133.56 million. On average, research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on GILT shares. 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 set a $20.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Wall Street Zen downgraded Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.00.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of 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 worth $51,992,000 after purchasing an additional 2,250,000 shares during the period. Penserra Capital Management LLC boosted its stake in Gilat Satellite Networks by 831.1% during the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider's stock valued at $15,533,000 after purchasing an additional 1,064,959 shares during the period. Defiance ETFs LLC acquired a new stake in Gilat Satellite Networks in the 4th quarter valued at approximately $13,555,000. UBS Group AG grew its holdings in Gilat Satellite Networks by 613.4% in the 3rd quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider's stock valued at $12,545,000 after buying an additional 828,489 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Gilat Satellite Networks by 995.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider's stock worth $11,755,000 after buying an additional 824,949 shares during the period. 35.72% of the stock is owned by institutional investors and hedge funds.

About Gilat Satellite Networks

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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