Phoenix Financial Ltd. Sells 1,204,897 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Phoenix Financial Ltd. decreased its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,942,322 shares of the communications equipment provider's stock after selling 1,204,897 shares during the quarter. Phoenix Financial Ltd. owned 3.41% of Gilat Satellite Networks worth $11,945,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in Gilat Satellite Networks by 4.6% during the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider's stock worth $335,000 after purchasing an additional 2,812 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Gilat Satellite Networks in the third quarter valued at about $27,000. Diametric Capital LP increased its position in Gilat Satellite Networks by 38.5% in the 4th quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 10,759 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks in the third quarter worth about $61,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $85,000. 35.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GILT shares. Needham & Company LLC reiterated a "buy" rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th. StockNews.com lowered Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th.

Gilat Satellite Networks Trading Up 1.7 %

GILT stock traded up $0.10 during midday trading on Tuesday, reaching $6.16. The company's stock had a trading volume of 156,189 shares, compared to its average volume of 286,700. The business's 50-day simple moving average is $6.76 and its 200-day simple moving average is $6.15. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The stock has a market cap of $351.22 million, a PE ratio of 14.00 and a beta of 0.49. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. As a group, sell-side analysts expect that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

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.