Thompson Davis & CO. Inc. Invests $486,000 in Gilat Satellite Networks Ltd. $GILT

Thompson Davis & CO. Inc. bought a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 37,300 shares of the communications equipment provider’s stock, valued at approximately $486,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Wilshire Securities Management Inc. grew its position in Gilat Satellite Networks by 1.0% in the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after acquiring an additional 14,782 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Gilat Satellite Networks by 831.1% in the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Gilat Satellite Networks by 62.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after purchasing an additional 419,843 shares in the last quarter. CSM Advisors LLC purchased a new stake in Gilat Satellite Networks during the 2nd quarter worth $6,214,000. Finally, LBP AM SA lifted its holdings in Gilat Satellite Networks by 29.0% in the 3rd quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock worth $9,511,000 after buying an additional 164,386 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Down 4.9%

NASDAQ:GILT opened at $18.46 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $15.00 and its two-hundred day moving average is $12.55. Gilat Satellite Networks Ltd. has a 52 week low of $5.30 and a 52 week high of $20.38. The company has a market cap of $1.06 billion, a PE ratio of 45.03 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $117.69 million during the quarter, compared to the consensus estimate of $112.19 million. Gilat Satellite Networks had a return on equity of 10.40% and a net margin of 6.03%. On average, analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Freedom Capital downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gilat Satellite Networks currently has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Profile

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.