Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 279.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,380 shares of the communications equipment provider's stock after buying an additional 100,396 shares during the quarter. Van ECK Associates Corp owned approximately 0.24% of Gilat Satellite Networks worth $839,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GILT. ARK Investment Management LLC boosted its stake in shares of Gilat Satellite Networks by 7.9% during the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider's stock valued at $2,292,000 after purchasing an additional 31,714 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks during the third quarter worth $140,000. Foundry Partners LLC boosted its position in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider's stock valued at $4,396,000 after acquiring an additional 8,045 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at $27,000. Finally, PDT Partners LLC raised its position in shares of Gilat Satellite Networks by 51.1% in the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider's stock worth $145,000 after acquiring an additional 9,287 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently weighed in on GILT. StockNews.com raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Thursday, February 13th.

Gilat Satellite Networks Stock Down 1.2 %

NASDAQ GILT traded down $0.09 on Tuesday, hitting $7.35. The stock had a trading volume of 353,878 shares, compared to its average volume of 504,379. The business's fifty day moving average price is $6.71 and its 200 day moving average price is $5.65. The stock has a market cap of $419.07 million, a price-to-earnings ratio of 16.70 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. 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 posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share 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%. Equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current 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.