First Wilshire Securities Management Inc. Has $12.10 Million Stock Position in Gilat Satellite Networks Ltd. $GILT

First Wilshire Securities Management Inc. cut its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 934,707 shares of the communications equipment provider’s stock after selling 61,626 shares during the quarter. Gilat Satellite Networks comprises about 3.0% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 9th biggest holding. First Wilshire Securities Management Inc. owned approximately 1.63% of Gilat Satellite Networks worth $12,095,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Potomac Capital Management Inc. bought a new stake in Gilat Satellite Networks in the 4th quarter valued at $1,180,000. O Shaughnessy Asset Management LLC boosted its stake in Gilat Satellite Networks by 66.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 48,980 shares of the communications equipment provider’s stock valued at $634,000 after purchasing an additional 19,552 shares during the period. State of Wyoming bought a new stake in Gilat Satellite Networks in the 4th quarter valued at $106,000. Goldman Sachs Group Inc. boosted its stake in Gilat Satellite Networks by 1,205.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 882,983 shares of the communications equipment provider’s stock valued at $11,426,000 after purchasing an additional 815,360 shares during the period. Finally, Huntington National Bank boosted its stake in Gilat Satellite Networks by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock opened at $15.34 on Friday. Gilat Satellite Networks Ltd. has a 52 week low of $6.07 and a 52 week high of $20.93. The stock has a market capitalization of $1.13 billion, a P/E ratio of 30.08 and a beta of 1.00. The stock has a fifty day moving average of $17.09 and a 200-day moving average of $15.87.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%.The company had revenue of $110.47 million during the quarter. On average, research analysts forecast that Gilat Satellite Networks Ltd. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Adi Sfadia sold 48,978 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Doron Kerbel sold 7,500 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.03, for a total value of $135,225.00. The SEC filing for this sale provides additional information. 1.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on GILT. Zacks Research upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $20.00.

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.