Altshuler Shaham Ltd Acquires 464,829 Shares of Gilat Satellite Networks Ltd. $GILT

Altshuler Shaham Ltd raised its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 4,494.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 475,171 shares of the communications equipment provider’s stock after acquiring an additional 464,829 shares during the quarter. Altshuler Shaham Ltd’s holdings in Gilat Satellite Networks were worth $5,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Huntington National Bank grew its position in shares of Gilat Satellite Networks by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Gilat Satellite Networks by 82.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 960 shares in the last quarter. Smartleaf Asset Management LLC bought a new position in shares of Gilat Satellite Networks during the 4th quarter worth $39,000. Signaturefd LLC grew its position in shares of Gilat Satellite Networks by 104.5% during the 4th quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after buying an additional 2,105 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Gilat Satellite Networks during the 4th quarter worth $64,000. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Up 0.2%

Shares of NASDAQ:GILT opened at $13.58 on Thursday. Gilat Satellite Networks Ltd. has a 52-week low of $6.24 and a 52-week high of $20.93. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 26.63 and a beta of 1.00. The business has a 50-day moving average price of $16.91 and a 200-day moving average price of $15.94.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%.The firm had revenue of $110.47 million during the quarter. As a group, equities analysts anticipate that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday. Finally, Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Insider Activity

In related news, insider Doron Kerbel sold 7,500 shares of Gilat Satellite Networks stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arieh Rohrstock sold 17,568 shares of Gilat Satellite Networks stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $15.23, for a total value of $267,560.64. Following the transaction, the insider owned 7,531 shares of the company’s stock, valued at approximately $114,697.13. This represents a 69.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.13% of the company’s stock.

Gilat Satellite Networks 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.