Gilat Satellite Networks Ltd. $GILT Shares Bought by Yelin Lapidot Holdings Management Ltd.

Yelin Lapidot Holdings Management Ltd. boosted its stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 255.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 645,549 shares of the communications equipment provider’s stock after buying an additional 464,000 shares during the quarter. Gilat Satellite Networks comprises approximately 2.0% of Yelin Lapidot Holdings Management Ltd.’s portfolio, making the stock its 14th biggest holding. Yelin Lapidot Holdings Management Ltd.’s holdings in Gilat Satellite Networks were worth $9,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its stake in Gilat Satellite Networks by 33.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock valued at $71,476,000 after acquiring an additional 1,402,035 shares in the last quarter. Royce & Associates LP lifted its position in Gilat Satellite Networks by 12.4% in the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock valued at $15,605,000 after buying an additional 132,599 shares during the last quarter. Van ECK Associates Corp increased its holdings in Gilat Satellite Networks by 77.3% in the 4th quarter. Van ECK Associates Corp now owns 1,068,141 shares of the communications equipment provider’s stock valued at $13,822,000 after purchasing an additional 465,775 shares during the last quarter. Defiance ETFs LLC acquired a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at $13,555,000. Finally, UBS Group AG lifted its position in shares of Gilat Satellite Networks by 613.4% during the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock worth $12,545,000 after purchasing an additional 828,489 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Insider Buying and Selling at Gilat Satellite Networks

In related news, insider Arieh Rohrstock sold 17,568 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $15.23, for a total transaction of $267,560.64. Following the transaction, the insider owned 7,531 shares of the company’s stock, valued at $114,697.13. This trade represents a 69.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.13% of the company’s stock.

Gilat Satellite Networks Stock Performance

GILT stock opened at $11.81 on Monday. The company has a market capitalization of $871.93 million, a P/E ratio of 23.16 and a beta of 1.00. The business has a 50 day simple moving average of $16.09 and a 200-day simple moving average of $15.97. Gilat Satellite Networks Ltd. has a twelve month low of $6.80 and a twelve month high of $20.93.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 11.65%. The business had revenue of $110.47 million for the quarter. Research analysts predict that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GILT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Gilat Satellite Networks in a research note on Thursday, June 18th. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

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.