Adi Sfadia Sells 48,978 Shares of Gilat Satellite Networks (NASDAQ:GILT) Stock

Gilat Satellite Networks Ltd. (NASDAQ:GILT) CEO Adi Sfadia sold 48,978 shares of Gilat Satellite Networks 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gilat Satellite Networks Trading Down 8.4%

NASDAQ GILT opened at $16.25 on Friday. The stock has a market capitalization of $929.66 million, a price-to-earnings ratio of 49.24 and a beta of 0.82. The stock has a 50-day moving average of $16.94 and a 200 day moving average of $14.08. Gilat Satellite Networks Ltd. has a twelve month low of $5.30 and a twelve month high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. Equities analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GILT shares. Freedom Capital upgraded shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment 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, Gilat Satellite Networks currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in GILT. Cetera Investment Advisers purchased a new stake in shares of Gilat Satellite Networks during the second quarter worth $191,000. Russell Investments Group Ltd. boosted its position in Gilat Satellite Networks by 39.6% during the second quarter. Russell Investments Group Ltd. now owns 122,685 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 34,810 shares during the last quarter. Corsair Capital Management L.P. acquired a new position in Gilat Satellite Networks during the second quarter worth about $142,000. Quadrature Capital Ltd purchased a new stake in Gilat Satellite Networks during the 2nd quarter valued at about $125,000. Finally, Marshall Wace LLP raised its holdings in Gilat Satellite Networks by 1.6% in the 2nd quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider’s stock valued at $3,643,000 after acquiring an additional 8,105 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

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.