UBS Group AG Trims Stake in Gilat Satellite Networks Ltd. $GILT

UBS Group AG reduced its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 44.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 531,126 shares of the communications equipment provider’s stock after selling 432,421 shares during the quarter. UBS Group AG owned 0.93% of Gilat Satellite Networks worth $6,873,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $26,000. Signaturefd LLC raised its position in Gilat Satellite Networks by 104.5% during the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock valued at $53,000 after acquiring an additional 2,105 shares in the last quarter. Raymond James Financial Inc. raised its position in Gilat Satellite Networks by 9.8% during the third quarter. Raymond James Financial Inc. now owns 24,412 shares of the communications equipment provider’s stock valued at $318,000 after acquiring an additional 2,173 shares in the last quarter. Tidal Investments LLC raised its position in Gilat Satellite Networks by 6.8% during the second quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider’s stock valued at $471,000 after acquiring an additional 4,250 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $64,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Zacks Research upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Gilat Satellite Networks has an average rating of “Buy” and a consensus target price of $20.00.

Insider Buying and Selling at Gilat Satellite Networks

In related news, insider Doron Kerbel sold 7,500 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.03, for a total value of $135,225.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adi Sfadia sold 48,978 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total value of $825,279.30. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.13% of the company’s stock.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $15.00 on Wednesday. The stock’s fifty day moving average is $17.35 and its two-hundred day moving average is $15.47. The firm has a market capitalization of $1.11 billion, a P/E ratio of 29.41 and a beta of 1.05. Gilat Satellite Networks Ltd. has a fifty-two week low of $5.43 and a fifty-two week high of $20.93.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.18 earnings per share for the quarter. The company had revenue of $110.47 million for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%. As a group, sell-side analysts forecast that Gilat Satellite Networks Ltd. will post 0.7 EPS for the current year.

Gilat Satellite Networks Company Profile

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.