Assenagon Asset Management S.A. purchased a new stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT – Free Report) during the 3rd quarter, HoldingsChannel reports. The fund purchased 98,543 shares of the communications equipment provider’s stock, valued at approximately $640,000.
A number of other institutional investors also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of Gilat Satellite Networks by 736.4% in the fourth quarter. Millennium Management LLC now owns 695,690 shares of the communications equipment provider’s stock worth $4,035,000 after acquiring an additional 612,515 shares during the period. Wellington Management Group LLP raised its stake in shares of Gilat Satellite Networks by 42.0% during the 1st quarter. Wellington Management Group LLP now owns 1,833,700 shares of the communications equipment provider’s stock valued at $9,389,000 after purchasing an additional 542,800 shares during the period. State Street Corp lifted its holdings in Gilat Satellite Networks by 93.9% during the 2nd quarter. State Street Corp now owns 701,302 shares of the communications equipment provider’s stock worth $4,236,000 after purchasing an additional 339,586 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in Gilat Satellite Networks in the 3rd quarter worth about $1,089,000. Finally, Goldman Sachs Group Inc. grew its holdings in Gilat Satellite Networks by 267.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 208,338 shares of the communications equipment provider’s stock valued at $1,298,000 after buying an additional 151,698 shares in the last quarter. 32.55% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. 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 Friday, November 17th. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th.
Gilat Satellite Networks Stock Up 4.0 %
Shares of NASDAQ GILT opened at $6.50 on Wednesday. The stock’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $6.30. Gilat Satellite Networks Ltd. has a twelve month low of $4.51 and a twelve month high of $7.16. The firm has a market capitalization of $368.03 million, a P/E ratio of 26.00 and a beta of 0.61.
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The communications equipment provider reported $0.08 EPS for the quarter. The company had revenue of $63.93 million during the quarter. Gilat Satellite Networks had a return on equity of 8.17% and a net margin of 5.34%.
Gilat Satellite Networks 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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