Yelin Lapidot Holdings Management Ltd. Purchases 500,000 Shares of Gilat Satellite Networks Ltd. $GILT

Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 275.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 681,549 shares of the communications equipment provider’s stock after acquiring an additional 500,000 shares during the period. Gilat Satellite Networks comprises 1.9% of Yelin Lapidot Holdings Management Ltd.’s portfolio, making the stock its 15th biggest position. Yelin Lapidot Holdings Management Ltd.’s holdings in Gilat Satellite Networks were worth $8,874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CSM Advisors LLC purchased a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth $6,214,000. LBP AM SA lifted its stake in shares of Gilat Satellite Networks by 33.3% during the second quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider’s stock worth $4,013,000 after buying an additional 141,378 shares during the period. Penserra Capital Management LLC purchased a new stake in Gilat Satellite Networks during the 2nd quarter valued at about $908,000. Acadian Asset Management LLC increased its holdings in Gilat Satellite Networks by 24.3% in the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider’s stock worth $4,044,000 after buying an additional 124,794 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Gilat Satellite Networks by 298.7% in the second quarter. Jane Street Group LLC now owns 68,222 shares of the communications equipment provider’s stock worth $484,000 after acquiring an additional 51,109 shares during the period. 35.72% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT opened at $15.06 on Monday. Gilat Satellite Networks Ltd. has a 12 month low of $5.30 and a 12 month high of $15.25. 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 firm has a market capitalization of $861.58 million, a P/E ratio of 36.73 and a beta of 0.64. The company’s fifty day moving average price is $12.46 and its 200 day moving average price is $11.06.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $117.69 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on GILT. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Zacks Research lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Gilat Satellite Networks Company 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.