Key Points
- Insider sale: Director Doron Kerbel sold 7,500 shares on March 20 at an average price of $18.03, a transaction totaling $135,225 disclosed in an SEC filing.
- Quarterly beat and stock snapshot: Gilat reported $0.20 EPS vs. $0.13 expected and $136.96M revenue, and the stock trades around $16.67 with a market cap of $1.23B and a 52-week range of $5.30–$20.38.
- Analyst and institutional interest: Ratings are mixed but average to a "Moderate Buy" with a $20 price target, and hedge funds own about 35.72% of the shares after several firms notably increased positions.
Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) insider Doron Kerbel sold 7,500 shares of Gilat Satellite Networks stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Gilat Satellite Networks Stock Up 2.6%
NASDAQ:GILT opened at $16.67 on Tuesday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 50.52 and a beta of 0.82. The company's 50 day moving average price is $16.93 and its 200-day moving average price is $14.19. Gilat Satellite Networks Ltd. has a 52 week low of $5.30 and a 52 week high of $20.38.
Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.07. The company had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. As a group, sell-side analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Freedom Capital upgraded Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of Gilat Satellite Networks from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.00.
Check Out Our Latest Research Report on GILT
Hedge Funds Weigh In On Gilat Satellite Networks
A number of institutional investors and hedge funds have recently modified their holdings of GILT. XTX Topco Ltd grew its holdings in shares of 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 worth $416,000 after acquiring an additional 7,666 shares during the period. Quadrature Capital Ltd bought a new position in Gilat Satellite Networks in the fourth quarter valued at about $444,000. Numerai GP LLC lifted its holdings in Gilat Satellite Networks by 224.0% in the fourth quarter. Numerai GP LLC now owns 58,049 shares of the communications equipment provider's stock valued at $751,000 after acquiring an additional 40,133 shares during the period. Millennium Management LLC boosted its position in Gilat Satellite Networks by 1,809.5% in the fourth quarter. Millennium Management LLC now owns 386,014 shares of the communications equipment provider's stock worth $4,995,000 after purchasing an additional 365,799 shares during the last quarter. Finally, Altshuler Shaham Ltd boosted its position in Gilat Satellite Networks by 4,494.6% in the fourth quarter. Altshuler Shaham Ltd now owns 475,171 shares of the communications equipment provider's stock worth $5,686,000 after purchasing an additional 464,829 shares during the last quarter. 35.72% of the stock is currently owned by hedge funds and other institutional investors.
About Gilat Satellite Networks
(
Get Free Report)
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.
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