Key Points
- Insider sale: Gilat Satellite Networks insider Arieh Rohrstock sold 17,568 shares on June 11 at an average price of $15.23, totaling about $267,561. After the sale, he retained 7,531 shares, cutting his holdings by nearly 70%.
- Stock and financial snapshot: The stock opened at $14.30, below its 50-day average of $17.04 and slightly under its 200-day average of $15.91. Gilat has a market cap of $1.06 billion and recently reported quarterly earnings of $0.18 per share on revenue of $110.47 million.
- Analyst sentiment: Research firms are mixed, but the overall view remains Buy with a consensus price target of $20.00. Recent ratings included a Zacks upgrade to Strong Buy, while Wall Street Zen downgraded the stock to Hold.
Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) insider Arieh Rohrstock sold 17,568 shares of Gilat Satellite Networks stock in a transaction dated Thursday, June 11th. The shares were 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 in the company, valued at $114,697.13. This represents a 69.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gilat Satellite Networks Stock Performance
Gilat Satellite Networks stock opened at $14.30 on Tuesday. The stock's 50 day moving average price is $17.04 and its 200 day moving average price is $15.91. The firm has a market capitalization of $1.06 billion, a PE ratio of 28.04 and a beta of 1.00. Gilat Satellite Networks Ltd. has a one year low of $6.20 and a one year high of $20.93.
Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly 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 for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%. On average, analysts forecast that Gilat Satellite Networks Ltd. will post 0.7 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Gilat Satellite Networks
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank increased its holdings in Gilat Satellite Networks by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider's stock worth $26,000 after purchasing an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Gilat Satellite Networks by 82.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 960 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in Gilat Satellite Networks during the 4th quarter worth approximately $39,000. Summit Securities Group LLC purchased a new stake in Gilat Satellite Networks during the 1st quarter worth approximately $48,000. Finally, Signaturefd LLC increased its holdings in Gilat Satellite Networks by 104.5% during the 4th quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider's stock worth $53,000 after purchasing an additional 2,105 shares during the last quarter. 35.72% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently commented on GILT. Zacks Research raised Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Wall Street Zen lowered Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned 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.
Check Out Our Latest Research Report on Gilat Satellite Networks
Gilat Satellite Networks Company Profile
(
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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