Clal Insurance Enterprises Holdings Ltd Boosts Stake in Gilat Satellite Networks Ltd. $GILT

Clal Insurance Enterprises Holdings Ltd raised its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 33.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,556,155 shares of the communications equipment provider’s stock after purchasing an additional 1,402,035 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned 9.71% of Gilat Satellite Networks worth $71,476,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank grew its holdings in shares of Gilat Satellite Networks by 200,000.0% in the fourth 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 in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Gilat Satellite Networks by 82.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 960 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Gilat Satellite Networks by 104.5% in the 4th quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock valued at $53,000 after acquiring an additional 2,105 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at about $64,000. Finally, Assetmark Inc. acquired a new stake in shares of Gilat Satellite Networks in the 3rd quarter valued at about $76,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Gilat Satellite Networks Stock Down 2.4%

Shares of Gilat Satellite Networks stock opened at $15.00 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of 29.41 and a beta of 1.00. Gilat Satellite Networks Ltd. has a fifty-two week low of $6.07 and a fifty-two week high of $20.93. The business has a 50-day moving average price of $17.08 and a 200 day moving average price of $15.86.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.18 earnings per share for the quarter. Gilat Satellite Networks had a return on equity of 11.65% and a net margin of 6.80%.The firm had revenue of $110.47 million during the quarter. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Two equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.00.

Insider Activity at Gilat Satellite Networks

In other Gilat Satellite Networks news, CEO Adi Sfadia sold 48,978 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $16.85, for a total transaction of $825,279.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Doron Kerbel sold 7,500 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The disclosure for this sale is available in the SEC filing. Insiders own 1.13% of the company’s stock.

About Gilat Satellite Networks

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.