Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 909,490 shares of the communications equipment provider’s stock after acquiring an additional 75,260 shares during the quarter. Foundry Partners LLC’s holdings in Gilat Satellite Networks were worth $5,593,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $27,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks during the 3rd quarter worth $61,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $85,000. Heron Bay Capital Management purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at $88,000. Finally, LPL Financial LLC acquired a new position in Gilat Satellite Networks in the fourth quarter valued at $132,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GILT. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a report on Wednesday, February 26th.

Gilat Satellite Networks Trading Down 6.4 %

Shares of GILT opened at $5.52 on Friday. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $8.05. The firm has a market capitalization of $314.73 million, a P/E ratio of 12.55 and a beta of 0.62. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $6.97 and its 200 day simple moving average is $6.08.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. On average, equities research analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

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.