First Wilshire Securities Management Inc. Sells 13,224 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

First Wilshire Securities Management Inc. decreased its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,470,887 shares of the communications equipment provider’s stock after selling 13,224 shares during the quarter. Gilat Satellite Networks accounts for about 2.4% of First Wilshire Securities Management Inc.’s holdings, making the stock its 13th biggest position. First Wilshire Securities Management Inc.’s holdings in Gilat Satellite Networks were worth $9,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. LBP AM SA grew its holdings in shares of Gilat Satellite Networks by 83.9% during the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock valued at $2,136,000 after buying an additional 158,468 shares during the last quarter. Inspire Investing LLC bought a new position in Gilat Satellite Networks in the 4th quarter valued at approximately $864,000. Van ECK Associates Corp boosted its stake in Gilat Satellite Networks by 279.0% during the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after purchasing an additional 100,396 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Gilat Satellite Networks by 43.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider’s stock valued at $1,329,000 after purchasing an additional 65,374 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Gilat Satellite Networks in the 4th quarter worth $226,000. 35.72% of the stock is owned by institutional investors.

Gilat Satellite Networks Price Performance

Shares of GILT opened at $6.28 on Wednesday. The firm has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $6.08. The firm has a market cap of $358.07 million, a PE ratio of 14.27 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. Gilat Satellite Networks Ltd. has a 1-year low of $4.04 and a 1-year high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com downgraded 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 set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

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.