Inspire Investing LLC Buys New Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Inspire Investing LLC purchased a new position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 140,440 shares of the communications equipment provider’s stock, valued at approximately $864,000. Inspire Investing LLC owned approximately 0.25% of Gilat Satellite Networks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Gilat Satellite Networks by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock valued at $4,817,000 after purchasing an additional 24,204 shares during the last quarter. Foundry Partners LLC lifted its stake in shares of Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after buying an additional 8,045 shares during the period. ARK Investment Management LLC lifted its stake in shares of Gilat Satellite Networks by 7.9% during the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after buying an additional 31,714 shares during the period. Marshall Wace LLP increased its position in shares of Gilat Satellite Networks by 410.2% in the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after acquiring an additional 103,924 shares during the period. Finally, Clearline Capital LP increased its position in shares of Gilat Satellite Networks by 510.5% in the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GILT shares. William Blair started coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research report on Thursday, January 16th. Finally, StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Gilat Satellite Networks Price Performance

NASDAQ:GILT opened at $7.11 on Friday. Gilat Satellite Networks Ltd. has a one year low of $4.04 and a one year high of $7.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The firm has a market cap of $405.41 million, a price-to-earnings ratio of 24.52 and a beta of 0.57. The firm’s fifty day moving average is $6.00 and its two-hundred day moving average is $5.21.

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.