Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Bought by Foundry Partners LLC

Foundry Partners LLC lifted its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 909,490 shares of the communications equipment provider’s stock after buying an additional 75,260 shares during the period. Foundry Partners LLC owned approximately 1.60% of Gilat Satellite Networks worth $5,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILT. BNP Paribas Financial Markets purchased a new position in Gilat Satellite Networks during the 3rd quarter worth $27,000. Virtu Financial LLC purchased a new position in Gilat Satellite Networks during the third quarter worth about $61,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Gilat Satellite Networks in the fourth quarter valued at about $85,000. Heron Bay Capital Management purchased a new stake in Gilat Satellite Networks in the 4th quarter valued at approximately $88,000. Finally, LPL Financial LLC acquired a new position in Gilat Satellite Networks during the 4th quarter worth approximately $132,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Down 6.4 %

Shares of Gilat Satellite Networks stock opened at $5.52 on Friday. The company has a 50-day moving average of $6.97 and a two-hundred day moving average of $6.08. Gilat Satellite Networks Ltd. has a 12-month low of $4.04 and a 12-month high of $8.05. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01. The stock has a market cap of $314.73 million, a PE ratio of 12.55 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. On average, research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on GILT shares. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.