Covestor Ltd Makes New $29,000 Investment in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Covestor Ltd purchased a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,792 shares of the communications equipment provider’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Inspire Investing LLC bought a new stake in Gilat Satellite Networks during the 4th quarter worth approximately $864,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks during the 3rd quarter valued at $61,000. BNP Paribas Financial Markets bought a new position in shares of Gilat Satellite Networks in the third quarter worth $27,000. Van ECK Associates Corp raised its position in shares of Gilat Satellite Networks by 279.0% in the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after buying an additional 100,396 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Gilat Satellite Networks during the fourth quarter valued at $226,000. 35.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GILT has been the topic of a number of research analyst reports. StockNews.com lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

Gilat Satellite Networks Stock Performance

NASDAQ GILT opened at $6.21 on Wednesday. The company has a market capitalization of $354.08 million, a P/E ratio of 14.11 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. Gilat Satellite Networks Ltd. has a 52-week low of $4.04 and a 52-week high of $8.05. The company has a fifty day moving average of $6.74 and a 200-day moving average of $6.15.

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

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.