Yelin Lapidot Holdings Management Ltd. Increases Position in Gilat Satellite Networks Ltd. $GILT

Yelin Lapidot Holdings Management Ltd. lifted its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 255.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 645,549 shares of the communications equipment provider’s stock after acquiring an additional 464,000 shares during the period. Gilat Satellite Networks accounts for approximately 2.0% of Yelin Lapidot Holdings Management Ltd.’s investment portfolio, making the stock its 14th biggest holding. Yelin Lapidot Holdings Management Ltd. owned about 0.87% of Gilat Satellite Networks worth $9,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Gilat Satellite Networks by 184.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 371,473 shares of the communications equipment provider’s stock valued at $5,494,000 after purchasing an additional 241,042 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Gilat Satellite Networks by 140.9% in the first quarter. Hanson & Doremus Investment Management now owns 9,404 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 5,500 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Gilat Satellite Networks during the first quarter worth about $172,000. XTX Topco Ltd boosted its position in Gilat Satellite Networks by 31.3% in the fourth quarter. XTX Topco Ltd now owns 32,176 shares of the communications equipment provider’s stock valued at $416,000 after buying an additional 7,666 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Gilat Satellite Networks in the fourth quarter valued at approximately $444,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $11.81 on Monday. The stock has a 50 day moving average of $16.09 and a 200 day moving average of $15.97. The stock has a market cap of $871.93 million, a P/E ratio of 23.16 and a beta of 1.00. 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 released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. The business had revenue of $110.47 million for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%. On average, research analysts predict that Gilat Satellite Networks Ltd. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Gilat Satellite Networks

In related news, insider Arieh Rohrstock sold 17,568 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $15.23, for a total transaction of $267,560.64. Following the sale, the insider directly owned 7,531 shares of the company’s stock, valued at approximately $114,697.13. This represents a 69.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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.