Tidal Investments LLC Increases Stock Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Tidal Investments LLC raised its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,779 shares of the communications equipment provider’s stock after buying an additional 2,158 shares during the quarter. Tidal Investments LLC’s holdings in Gilat Satellite Networks were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foundry Partners LLC lifted its position in Gilat Satellite Networks by 9.0% during the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock valued at $5,593,000 after buying an additional 75,260 shares during the period. LBP AM SA lifted its position in Gilat Satellite Networks by 83.9% during the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock valued at $2,136,000 after buying an additional 158,468 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Gilat Satellite Networks by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider’s stock valued at $1,329,000 after buying an additional 65,374 shares during the period. Lazard Asset Management LLC lifted its position in Gilat Satellite Networks by 62.9% during the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider’s stock valued at $1,028,000 after buying an additional 64,610 shares during the period. Finally, Van ECK Associates Corp lifted its position in Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after buying an additional 100,396 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

GILT opened at $5.66 on Friday. The stock has a 50-day moving average price of $6.19 and a 200-day moving average price of $6.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The firm has a market cap of $322.72 million, a PE ratio of 12.86 and a beta of 0.37. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. The company had revenue of $92.04 million during the quarter, compared to analysts’ expectations of $100.67 million. Sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th. Wall Street Zen lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Wednesday.

Gilat Satellite Networks Company Profile

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.