Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. reduced its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 38.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,942,322 shares of the communications equipment provider’s stock after selling 1,204,897 shares during the period. Phoenix Financial Ltd. owned about 3.41% of Gilat Satellite Networks worth $11,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Investing LLC acquired a new position in shares of Gilat Satellite Networks during the fourth quarter valued at $864,000. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at approximately $61,000. BNP Paribas Financial Markets acquired a new stake in Gilat Satellite Networks in the 3rd quarter valued at approximately $27,000. Van ECK Associates Corp grew its holdings in Gilat Satellite Networks by 279.0% in the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after buying an additional 100,396 shares during the last quarter. Finally, Diametric Capital LP grew its holdings in shares of 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 purchasing an additional 10,759 shares in the last quarter. 35.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GILT has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

Gilat Satellite Networks Trading Up 10.6 %

Shares of GILT stock opened at $6.05 on Thursday. The stock’s fifty day moving average price is $6.85 and its two-hundred day moving average price is $6.12. The company has a market cap of $344.95 million, a PE ratio of 13.75 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 debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. Equities analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Gilat Satellite Networks Company 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.