Gilat Satellite Networks Ltd. $GILT Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,091,053 shares of the communications equipment provider’s stock after purchasing an additional 419,843 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 1.91% of Gilat Satellite Networks worth $14,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Gilat Satellite Networks during the 3rd quarter valued at about $39,000. McIlrath & Eck LLC boosted its holdings in shares of Gilat Satellite Networks by 383.1% in the third quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 4,586 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $99,000. Quadrature Capital Ltd bought a new stake in Gilat Satellite Networks during the second quarter worth approximately $125,000. Finally, Corsair Capital Management L.P. acquired a new stake in Gilat Satellite Networks in the second quarter worth approximately $142,000. Institutional investors own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GILT shares. Wall Street Zen lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Freedom Capital cut Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Gilat Satellite Networks presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Gilat Satellite Networks Stock Down 1.1%

GILT stock opened at $17.67 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45. The company has a 50-day moving average of $13.08 and a two-hundred day moving average of $11.57. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 43.10 and a beta of 0.64. Gilat Satellite Networks Ltd. has a 52-week low of $5.30 and a 52-week high of $18.39.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $117.69 million during the quarter, compared to analyst estimates of $112.19 million. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

About Gilat Satellite Networks

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.