Arieh Rohrstock Sells 17,568 Shares of Gilat Satellite Networks (NASDAQ:GILT) Stock

Gilat Satellite Networks Ltd. (NASDAQ:GILT) insider Arieh Rohrstock sold 17,568 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $15.23, for a total value of $267,560.64. Following the completion of the transaction, the insider directly owned 7,531 shares of the company’s stock, valued at approximately $114,697.13. This trade represents a 69.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gilat Satellite Networks Price Performance

Shares of GILT stock opened at $13.55 on Wednesday. The stock has a market cap of $1.00 billion, a P/E ratio of 26.57 and a beta of 1.00. Gilat Satellite Networks Ltd. has a one year low of $6.24 and a one year high of $20.93. The stock has a fifty day moving average price of $16.99 and a 200 day moving average price of $15.93.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GILT. Clal Insurance Enterprises Holdings Ltd raised its stake in Gilat Satellite Networks by 118.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after acquiring an additional 2,250,000 shares in the last quarter. Defiance ETFs LLC acquired a new position in Gilat Satellite Networks during the fourth quarter worth $13,555,000. UBS Group AG increased its stake in shares of Gilat Satellite Networks by 613.4% in the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock valued at $12,545,000 after buying an additional 828,489 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Gilat Satellite Networks by 995.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock valued at $11,755,000 after buying an additional 824,949 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Gilat Satellite Networks by 1,205.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 882,983 shares of the communications equipment provider’s stock valued at $11,426,000 after buying an additional 815,360 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GILT has been the subject of several research reports. Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday. Finally, Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Key Stories Impacting Gilat Satellite Networks

Here are the key news stories impacting Gilat Satellite Networks this week:

• Positive Sentiment: Gilat announced a transformative $157.5 million acquisition of most of Comtech’s Satellite & Space Communications business, which could expand its defense and space capabilities, broaden its U.S. footprint, and lift annual revenue above $700 million if integration goes well. Article Title
• Positive Sentiment: Analysts noted the deal could strengthen Gilat’s competitive position in satcom by adding RF technologies, space electronics, and beyond-line-of-sight communications, potentially improving its defense market access. Article Title

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.