Assenagon Asset Management S.A. Takes Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Assenagon Asset Management S.A. purchased a new stake in Gilat Satellite Networks Ltd. (NASDAQ:GILTFree 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.

Check Out Our Latest Research Report on Gilat Satellite Networks

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:GILTGet 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GILT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilat Satellite Networks Ltd. (NASDAQ:GILTFree Report).

Institutional Ownership by Quarter for Gilat Satellite Networks (NASDAQ:GILT)

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