Gilat Satellite Networks Ltd. $GILT Shares Sold by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. lessened its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 934,707 shares of the communications equipment provider’s stock after selling 61,626 shares during the quarter. Gilat Satellite Networks comprises 3.0% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 9th biggest holding. First Wilshire Securities Management Inc.’s holdings in Gilat Satellite Networks were worth $12,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank increased its holdings in Gilat Satellite Networks by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Gilat Satellite Networks by 82.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 960 shares in the last quarter. Signaturefd LLC increased its holdings in Gilat Satellite Networks by 104.5% in the 4th quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after purchasing an additional 2,105 shares in the last quarter. Leonteq Securities AG acquired a new position in Gilat Satellite Networks in the 4th quarter worth about $64,000. Finally, Assetmark Inc. acquired a new position in Gilat Satellite Networks in the 3rd quarter worth about $76,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Insider Activity at Gilat Satellite Networks

In related news, insider Doron Kerbel sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adi Sfadia sold 48,978 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The SEC filing for this sale provides additional information. Company insiders own 1.13% of the company’s stock.

Gilat Satellite Networks Price Performance

NASDAQ GILT opened at $15.34 on Friday. The business has a 50 day simple moving average of $17.09 and a 200 day simple moving average of $15.87. Gilat Satellite Networks Ltd. has a one year low of $6.07 and a one year high of $20.93. The stock has a market capitalization of $1.13 billion, a P/E ratio of 30.08 and a beta of 1.00.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%.The business had revenue of $110.47 million during the quarter. Equities analysts expect that Gilat Satellite Networks Ltd. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

GILT has been the subject of a number of recent research reports. Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Freedom Capital raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average 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.