Renaissance Technologies LLC Sells 136,949 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Renaissance Technologies LLC cut its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,077,584 shares of the communications equipment provider's stock after selling 136,949 shares during the period. Renaissance Technologies LLC owned approximately 1.89% of Gilat Satellite Networks worth $6,627,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter valued at about $27,000. Virtu Financial LLC acquired a new position in Gilat Satellite Networks during the third quarter valued at approximately $61,000. Tidal Investments LLC increased its stake in Gilat Satellite Networks by 4.6% in the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider's stock valued at $335,000 after purchasing an additional 2,812 shares in the last quarter. Inspire Investing LLC acquired a new stake in Gilat Satellite Networks in the fourth quarter worth $864,000. Finally, Van ECK Associates Corp boosted its position in shares of Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider's stock worth $839,000 after purchasing an additional 100,396 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on GILT shares. 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 Wednesday, February 26th. StockNews.com downgraded Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th.

Gilat Satellite Networks Stock Up 0.7 %

Gilat Satellite Networks stock opened at $6.13 on Friday. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $8.05. 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 company has a 50 day moving average of $6.66 and a 200-day moving average of $6.16. The stock has a market capitalization of $349.51 million, a PE ratio of 13.93 and a beta of 0.49.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping 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 research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Gilat Satellite Networks Company 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. 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.

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