Meitav Investment House Ltd. Lowers Stock Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Meitav Investment House Ltd. lowered its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 42.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,109,718 shares of the communications equipment provider's stock after selling 1,551,773 shares during the quarter. Meitav Investment House Ltd. owned approximately 3.73% of Gilat Satellite Networks worth $12,882,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GILT. Advisor Group Holdings Inc. raised its holdings in shares of Gilat Satellite Networks by 31.2% during the first quarter. Advisor Group Holdings Inc. now owns 34,965 shares of the communications equipment provider's stock valued at $308,000 after acquiring an additional 8,315 shares during the last quarter. Swiss National Bank raised its holdings in shares of Gilat Satellite Networks by 6.2% during the first quarter. Swiss National Bank now owns 73,949 shares of the communications equipment provider's stock valued at $657,000 after acquiring an additional 4,332 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Gilat Satellite Networks by 31.1% during the first quarter. Cetera Advisor Networks LLC now owns 38,094 shares of the communications equipment provider's stock valued at $338,000 after acquiring an additional 9,033 shares during the last quarter. Citigroup Inc. acquired a new position in shares of Gilat Satellite Networks during the first quarter valued at approximately $204,000. Finally, Vanguard Group Inc. increased its holdings in shares of Gilat Satellite Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 798,840 shares of the communications equipment provider's stock valued at $7,037,000 after purchasing an additional 30,244 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company's stock.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT traded down $0.13 during midday trading on Friday, hitting $5.60. The company had a trading volume of 255,630 shares, compared to its average volume of 169,565. Gilat Satellite Networks Ltd. has a twelve month low of $4.51 and a twelve month high of $7.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60. The stock has a market cap of $319.31 million, a price-to-earnings ratio of 13.33 and a beta of 0.59. The business's 50-day simple moving average is $5.89 and its 200-day simple moving average is $6.09.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $75.61 million during the quarter. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%.

Analyst Ratings Changes

Separately, StockNews.com raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 7th.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.