Gilat Satellite Networks (NASDAQ:GILT) Insider Sells $135,225.00 in Stock
by Kim Johansen · The Markets DailyGilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) insider Doron Kerbel sold 7,500 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Gilat Satellite Networks Price Performance
NASDAQ:GILT opened at $16.25 on Monday. Gilat Satellite Networks Ltd. has a one year low of $5.30 and a one year high of $20.38. The company has a fifty day moving average price of $16.94 and a 200 day moving average price of $14.14. The stock has a market cap of $1.20 billion, a P/E ratio of 49.24 and a beta of 0.82.
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The company had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. As a group, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.
Analyst Upgrades and Downgrades
GILT has been the topic of several research reports. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Finally, Wall Street Zen cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Gilat Satellite Networks currently has an average rating of “Moderate Buy” and an average price target of $20.00.
Read Our Latest Report on Gilat Satellite Networks
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks during the third quarter worth about $26,000. Huntington National Bank grew its stake in shares of Gilat Satellite Networks by 200,000.0% in the 4th 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 during the period. SBI Securities Co. Ltd. raised 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 worth $28,000 after buying an additional 960 shares in the last quarter. USA Financial Formulas bought a new position in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC bought a new position in shares of Gilat Satellite Networks during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 35.72% 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.