Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.
Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Thursday.
Read Our Latest Research Report on Gilat Satellite Networks
Gilat Satellite Networks Trading Down 0.2 %
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%.
Institutional Trading of Gilat Satellite Networks
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GILT. New York State Common Retirement Fund purchased a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $48,000. Quadrant Capital Group LLC lifted its stake in Gilat Satellite Networks by 150.5% in the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 4,733 shares during the last quarter. Jump Financial LLC lifted its stake in Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 4,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Gilat Satellite Networks by 129.3% in the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock valued at $174,000 after purchasing an additional 16,004 shares during the last quarter. 35.72% of the stock is owned by institutional investors.
About Gilat Satellite Networks
Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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