Penn Capital Management Company LLC Acquires 138,238 Shares of Gilat Satellite Networks Ltd. $GILT

Penn Capital Management Company LLC lifted its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 99.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 277,511 shares of the communications equipment provider’s stock after acquiring an additional 138,238 shares during the quarter. Penn Capital Management Company LLC’s holdings in Gilat Satellite Networks were worth $2,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. StoneX Group Inc. acquired a new stake in Gilat Satellite Networks during the third quarter valued at approximately $120,000. Sumitomo Mitsui Trust Group Inc. grew its position in Gilat Satellite Networks by 47.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 25,384 shares of the communications equipment provider’s stock worth $251,000 after buying an additional 8,163 shares during the last quarter. Seven Mile Advisory acquired a new position in Gilat Satellite Networks in the third quarter worth approximately $105,000. Vontobel Holding Ltd. grew its position in Gilat Satellite Networks by 69.5% in the third quarter. Vontobel Holding Ltd. now owns 26,478 shares of the communications equipment provider’s stock worth $261,000 after buying an additional 10,854 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Gilat Satellite Networks by 24.4% in the second quarter. Tidal Investments LLC now owns 92,288 shares of the communications equipment provider’s stock valued at $1,228,000 after buying an additional 18,107 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Gilat Satellite Networks Stock Up 5.4%

NASDAQ:GILT opened at $7.58 on Tuesday. The stock has a fifty day simple moving average of $8.93 and a 200 day simple moving average of $13.53. The firm has a market capitalization of $559.63 million, a price-to-earnings ratio of 9.94 and a beta of 1.15. Gilat Satellite Networks Ltd. has a 1-year low of $6.45 and a 1-year high of $20.93.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd. is an Israel-based provider of satellite networking technology and services. The company develops and supplies very small aperture terminal (VSAT) systems, satellite hubs, antennas, modems and related ground infrastructure used to deliver broadband connectivity and other communications services.

Gilat’s solutions support telecommunications operators, internet service providers, enterprises, governments and defense organizations. Its offerings are used for cellular backhaul and access, enterprise networking, community broadband, in-flight connectivity, maritime communications, mobility applications and other situations where terrestrial networks may be unavailable or insufficient.