Precision Wealth Strategies LLC Takes $1.10 Million Position in Gilat Satellite Networks Ltd. $GILT

Precision Wealth Strategies LLC acquired a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 85,129 shares of the communications equipment provider’s stock, valued at approximately $1,102,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. lifted its position in shares of Gilat Satellite Networks by 275.4% during the 3rd quarter. Yelin Lapidot Holdings Management Ltd. now owns 681,549 shares of the communications equipment provider’s stock valued at $8,874,000 after acquiring an additional 500,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Gilat Satellite Networks by 62.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after purchasing an additional 419,843 shares during the period. Y.D. More Investments Ltd raised its stake in Gilat Satellite Networks by 913.0% during the 4th quarter. Y.D. More Investments Ltd now owns 403,746 shares of the communications equipment provider’s stock valued at $5,235,000 after purchasing an additional 363,890 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Gilat Satellite Networks during the 4th quarter valued at $1,693,000. Finally, LBP AM SA raised its stake in Gilat Satellite Networks by 31.7% during the 4th quarter. LBP AM SA now owns 961,719 shares of the communications equipment provider’s stock valued at $12,445,000 after purchasing an additional 231,258 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

NASDAQ:GILT traded up $0.52 during trading hours on Thursday, reaching $18.06. The company’s stock had a trading volume of 110,532 shares, compared to its average volume of 861,962. Gilat Satellite Networks Ltd. has a one year low of $5.43 and a one year high of $20.38. The business’s 50-day moving average is $16.90 and its 200-day moving average is $15.15. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 54.73 and a beta of 0.92.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The company had revenue of $136.96 million during the quarter, compared to analysts’ expectations of $133.56 million. On average, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Freedom Capital raised shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Insider Activity

In related news, CEO Adi Sfadia sold 48,978 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $16.85, for a total value of $825,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Doron Kerbel sold 7,500 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.03, for a total transaction of $135,225.00. Additional details regarding this sale are available in the official SEC disclosure. 1.13% of the stock is currently owned by company insiders.

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.