Renaissance Technologies LLC Has $6.63 Million Stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Renaissance Technologies LLC trimmed its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,077,584 shares of the communications equipment provider's stock after selling 136,949 shares during the quarter. Renaissance Technologies LLC owned about 1.89% of Gilat Satellite Networks worth $6,627,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Inspire Investing LLC bought a new position in shares of Gilat Satellite Networks in the fourth quarter worth $864,000. Virtu Financial LLC acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at approximately $61,000. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $27,000. Raymond James Financial Inc. acquired a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $226,000. Finally, Van ECK Associates Corp increased its stake 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 during the last quarter. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Price Performance

Gilat Satellite Networks stock traded up $0.05 during mid-day trading on Thursday, reaching $6.31. The company had a trading volume of 41,461 shares, compared to its average volume of 287,513. The business has a fifty day simple moving average of $6.62 and a 200 day simple moving average of $6.18. The company has a market cap of $360.01 million, a P/E ratio of 14.32 and a beta of 0.49. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.04 and a fifty-two week high of $8.05. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. On average, equities research analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GILT shares. StockNews.com downgraded Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

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.