Wellington Management Group LLP Sells 356,928 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Wellington Management Group LLP lowered its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470,038 shares of the communications equipment provider's stock after selling 356,928 shares during the quarter. Wellington Management Group LLP owned approximately 2.58% of Gilat Satellite Networks worth $7,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in GILT. GSA Capital Partners LLP bought a new stake in shares of Gilat Satellite Networks in the third quarter worth $140,000. Foundry Partners LLC lifted its stake in shares of Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider's stock worth $3,693,000 after purchasing an additional 177,675 shares during the last quarter. Marshall Wace LLP raised its position in shares of Gilat Satellite Networks by 410.2% in the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider's stock valued at $578,000 after purchasing an additional 103,924 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Gilat Satellite Networks in the second quarter worth $46,000. Finally, Clearline Capital LP acquired a new position in shares of Gilat Satellite Networks in the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 35.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. William Blair initiated coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an "outperform" rating on the stock. StockNews.com upgraded Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a report on Friday, November 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Friday, November 15th.

Gilat Satellite Networks Stock Performance

Shares of GILT stock traded up $0.16 during trading hours on Monday, reaching $6.11. 384,320 shares of the company's stock were exchanged, compared to its average volume of 210,384. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $348.37 million, a P/E ratio of 21.10 and a beta of 0.59. The business has a fifty day moving average price of $5.37 and a 200-day moving average price of $4.94. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.04 and a fifty-two week high of $6.66.

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. 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.