Clal Insurance Enterprises Holdings Ltd Boosts Stock Holdings in Gilat Satellite Networks Ltd. $GILT

Clal Insurance Enterprises Holdings Ltd raised its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 118.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,154,120 shares of the communications equipment provider’s stock after purchasing an additional 2,250,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned 0.07% of Gilat Satellite Networks worth $51,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. increased its stake in shares of Gilat Satellite Networks by 275.4% in the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 681,549 shares of the communications equipment provider’s stock worth $8,874,000 after purchasing an additional 500,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after buying an additional 419,843 shares in the last quarter. LBP AM SA grew its stake in Gilat Satellite Networks by 29.0% in the 3rd quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock valued at $9,511,000 after buying an additional 164,386 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Gilat Satellite Networks by 831.1% during the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after acquiring an additional 1,064,959 shares during the period. Finally, CSM Advisors LLC purchased a new stake in shares of Gilat Satellite Networks during the second quarter worth $6,214,000. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Stock Performance

Shares of GILT opened at $15.90 on Friday. Gilat Satellite Networks Ltd. has a 12-month low of $5.30 and a 12-month high of $20.38. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company has a market cap of $909.64 million, a PE ratio of 48.18 and a beta of 0.82. The stock has a 50-day moving average price of $15.91 and a 200-day moving average price of $13.27.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The business had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. As a group, equities analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GILT shares. Wall Street Zen lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Saturday. Freedom Capital raised shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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.